Engineering and construction M&A update: H1 2018

Engineering and construction industry overview and indicators

Baker Tilly Capital, LLC’s engineering and construction M&A update provides an overview of the U.S. engineering and construction sector, including recent performance and M&A trends for the six months ending June 30, 2018 (H1 2018).

Year-to-date construction spending as of June 30, 2018 totaled $619.9 billion, which represented a 6.6 percent increase over the same six-month period in 2017. Trailing 12 months (TTM) spending as of June 30, 2018 was $1.3 trillion, which is 4.3 percent above the TTM ended June 30, 2017 and marks a new 15-year high. Though total construction spending has continued to increase, growth rates have decelerated since 2015.

Year-over-year total construction spending growth as of June 30, 2018 was driven by office, public safety, transportation and communication spending. Year-over-year total construction spending declined for the manufacturing, religious and power industries. Since the Great Recession (2007-2009), public spending has declined towards a long run average and private spending has increased substantially.

Sources: U.S. Census Bureau, American Institute of Architects, Wall Streel Journal, Capital IQ, Federal Open Market Committee, Bureau of Labor Statistics

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