Perspectives

Dave Kakarenka - Managing Director, Balmoral Advisors

Dave Kakareka

Managing Director

Dave Kakareka

Managing Director

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The U.S. building products industry entered Q1 2025 with cautious optimism, buoyed by stabilizing macroeconomic conditions and sustained demand in key end markets, despite persistent challenges. After a robust Q4 2024, where residential construction starts rose 7.2% Y-o-Y, the sector continued to benefit from steady home improvement spending and infrastructure investments. Non-residential construction, particularly in manufacturing and data centers, has also driven demand for building materials like concrete, steel, and engineered wood products.