Minneapolis is expected to continue its current downward trajectory in Q4 2019.
The infrastructure sector is looking to outgrow the remaining sectors by a very large margin, with several new projects addressing street paving needs, bridge repairs, bike and pedestrian improvements, and sanitary/storm sewer needs. The effect that the end of residential projects like 365 Nicollet and East End have had has been lessened by ongoing and new projects like the East Town Apartments. In terms of the labor market, the recent addition of thousands of jobs has helped lower the unemployment levels and will continue to do so into 2020. In the next two years, we expect construction activity to continue to fall overall, with a steep drop-off in 2020 followed by a more gradual decline in 2021. This will be driven by a serious decline in the infrastructure sector predicted for both years. We expect that manufacturing will also turn from increasing to declining for the next two years. In addition to the downturns in infrastructure and manufacturing, every sector but education is expected to fall further in 2020 than they did in 2019.