Engineering and construction M&A update: H1 2019

Engineering and construction industry overview and indicators

Baker Tilly Capital, LLC’s engineering and construction M&A newsletter provides an overview of the US engineering and construction sector, including recent performance and M&A trends for the six months ending June 30, 2019 (H1 2019).

H1 2019 construction spending totaled $615.1 billion which represented a 0.7 percent decrease over the same six-month period in 2017. Trailing twelve months (TTM) spending as of June 30, 2019 was $1.3 trillion, which is 1.7 percent above the TTM ended June 30, 2018. Though total construction spending has continued to increase, growth rates have decelerated since 2015. 

Total construction spending in the U.S. (in millions)

Year-over-year (YOY) total construction spending growth as of June 30, 2019 was driven by power, highway and street, and commercial spending. Since the Great Recession (2007-2009), public spending has declined towards a long run average and private spending continues to pace above the long run average.

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