The State of Trade Survey for the first quarter of 2026 covers a difficult three-month period for construction demand, split between heavy and persistent rain in the first half and the escalation of conflict in Iran in the second, which led to oil prices rising – and staying – above $100 per barrel. 

Both heavy side and light side manufacturers reported that sales declined compared to 2025 Q4, which was the first time that sales have declined for both segments of construction product manufacturing since the end of 2023. Furthermore, cost increases were reported by all manufacturers.

Key survey findings include:

• Sales volumes decreased for product manufacturers on both the heavy side and the light side in Q1, on balance
• 14% of heavy side firms and 18% of those on the light side reported a decrease in sales compared to 2025 Q4
• Demand was cited as the largest potential constraint on near-term activity
• All manufacturers reported an increase in costs compared to a year ago
• Cost inflation was led by raw materials, fuel and energy costs.

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• Construction Products Association
• CPA