Construction Spending Negative – Growth Alert (Sep. ’25)

Construction spending continues to slow, averaging -5.5% over the past four months. As the largest purchasing group of commercial insurance, if construction spending continues to contract in 2025 we’d expect many P/C insurers and brokers to experience decelerating organic revenue growth. Statistical work examining the link between premiums and construction & retail trade from a research note earlier this year. Reach out for that work as part of a trial.