Total construction starts rose 6% in April to a seasonally adjusted annual rate of $1.13 trillion, according to Dodge Construction Network. Nonresidential building starts gained 17%, nonbuilding starts were 4% higher, while residential starts slipped 1%. On a year-to-date basis through April total construction starts were up 13% from the first four months of 2023. Residential starts were up 22%,…
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Aggregates, Cement Production Fall in First Quarter
The U.S. Geological Survey reported that the estimated U.S. output of construction aggregates produced and shipped for consumption in the first quarter of 2024 was 455 million metric tons (Mt), a decrease of 3.9% compared with that of the same period of 2023. Major companies reported significant decreases in construction aggregates shipments due to poor weather conditions (Martin Marietta Materials,…
Read MorePCA’s Sullivan Projects Repeat of 2023 Construction Market Force Duel
Following the Federal Reserve’s recent signaling of a single 2024 interest rate cut, Portland Cement Association (PCA) Chief Economist Ed Sullivan sees a return this year of two forces – one exposed to, the other mostly shielded from borrowing costs – that shaped 2023 private and public construction activity. High interest rates drove down residential and commercial building volume last…
Read MoreCement Shipments Tumble in January
Total shipments of portland and blended cement, including imports, in the United States and Puerto Rico in January 2024 were an estimated 5.89 million metric tons (Mt), a 14.3% decrease from revised shipments in January 2023, according to the most recent USGS Mineral Industry Survey. Of total blended tonnage reported in January 2024, 2.7 Mt (98%) was estimated to be portland-limestone…
Read MoreConstruction Starts Fall 15% in November
Total construction starts fell 15% in November, dropping to a seasonally adjusted annual rate of $927 billion, according to Dodge Construction Network. Nonresidential building starts fell 29% during the month, residential starts lost 6%, and nonbuilding starts dropped 2%. Highway and bridge starts were down 8%. Year-to-date through November 2023, total construction starts lagged by 4% compared to the previous…
Read MoreConstruction Starts Increase in August; Highways Surge
Total construction starts rose 6% in August to a seasonally adjusted annual rate of $1.3 trillion, according to Dodge Construction Network. Nonresidential starts rose 40% thanks to a large pickup in manufacturing and transportation buildings. Residential and nonbuilding starts fell 1% and 14%, respectively. Highway and bridge starts jumped 19%. Year-to-date through August 2023, total construction starts were 5% below…
Read MoreConstruction Spending in August Rises for Month, Year
According to the U.S. Census Bureau, construction spending during August 2023 was estimated at a seasonally adjusted annual rate of $1,983.5 billion, 0.5% (±1.2%) above the revised July estimate of $1,973.7 billion. The August figure is 7.4% (±1.8%) above the August 2022 estimate of $1,847.3 billion. During the first eight months of this year, construction spending amounted to $1,284.7 billion,…
Read MoreCement Shipments Continue Slight Decline
Total shipments of portland and blended cement, including imports, in the United States and Puerto Rico in July 2023 were an estimated 9.3 million metric tons (Mt), a slight decrease from shipments in July 2022, according to the most recent USGS Mineral Industry Survey. Of total blended tonnage reported in July 2023, 4.9 Mt (98%) was estimated to be portland-limestone cement…
Read MoreTotal Construction Starts Dip in June
Construction Spending Ticks Upward; Highways Down Slightly
According to the U.S. Census Bureau, construction spending during June 2023 was estimated at a seasonally adjusted annual rate of $1,938.4 billion, 0.5% (±0.5%) above the revised May estimate of $1,929.6 billion. The June figure is 3.5% (±1.3%) above the June 2022 estimate. During the first six months of this year, construction spending amounted to $917.4 billion, 3.0% (±1.0%) above…
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