The Construction Economist — May 23, 2026

· Input costs up 6.2% year to date

· Switchgear lead times stall data centers

· Architecture billings still under the growth line

· USDOT maps a five-year freight strategy

· ConTech startups raise $87M for AI tools

Top News

Construction Input Prices Jump 1.7% in April — Up 6.2% Year to Date Construction Dive / ABC · 4 min read

Construction input prices rose 1.7% from March to April and are up 6.2% so far in 2026, a bigger four-month climb than the prior three years combined, per ABC's analysis of BLS data. Diesel rose 13.6% in the month and is 73.8% higher than a year ago; asphalt jumped 41% month over month. Nonresidential input prices are up 7.4% year over year.

Long-Lead Electrical Gear Becomes the Data Center Bottleneck Construction Dive · 5 min read

Medium-voltage switchgear is running 40 to 60-plus weeks, with transformers and generators on similar timelines, says Hut 8's EPC director — a shell can be roughed in, but without the gear "you're not energizing." Data center cancellations rose to 25 in 2025 from six in 2024 and two in 2023, according to Baird, as at least 188 local opposition groups now operate across 40 states.

Project Finance & Economics

Architecture Billings Slip to 48.3 in April, Still Below the Growth Line AIA / Deltek · 6 min read

The AIA/Deltek Architecture Billings Index fell to 48.3 in April from 49.8 in March, and has not topped the 50 growth threshold since January 2023. Inquiries into new projects rose for a third straight month. Billings kept declining at commercial/industrial firms, while institutional and multifamily residential firms posted modest growth. The ABI leads nonresidential construction activity by roughly 9 to 12 months.

Policy, Codes & Regulation

USDOT Releases 2026 National Freight Strategic Plan AASHTO Journal · 2 min read

The U.S. Department of Transportation released its 2026 National Freight Strategic Plan, a five-year framework for the nation's nearly seven-million-mile freight network, which moves more than 54 million tons of goods worth over $68 billion daily. The plan sets six goals: safety, system reliability and streamlined regulation, supply-chain integrity, risk reduction, infrastructure modernization, and workforce. USDOT said reshoring has doubled the construction of domestic manufacturing facilities since 2021.

Tech & Tools

Six ConTech Startups Raise ~$87M, Led by BIM-Data Play ONESTRUCTION Bricks & Bytes · 7 min read

Six construction-technology startups raised roughly $87 million in the week ending May 11, with no acquisitions recorded. Tokyo-based ONESTRUCTION led at about $58 million (¥9.1 billion) for BIM data-quality and AI tooling, followed by California's Illoca with a $13 million seed for an AI-native design platform. Smaller rounds went to AI feasibility (Davis, $5.5M), home modification (Rosarium Health, $6M), and structural materials (Supersede, $5M).

The Construction Economist is published weekly. Sources linked in each item. © 2026 The Construction Economist