Total Construction Starts Increase in February

Total construction starts rose 9% in February to a seasonally adjusted annual rate of $1.013 trillion, according to Dodge Construction Network. Year-to-date, total construction was 14% higher in the first two months of 2022 than in the same period of 2021. Nonresidential building starts jumped 39%, nonbuilding starts rose 4% and residential starts gained 5%.  For the 12 months ending…

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PCA: IIJA to Boost Cement Consumption Cement Shipments Rise 5.4% in December

Portland Cement Association Senior Vice President and Chief Economist Ed Sullivan presented his annual economic forecast, with specific focus on the cement industry and the increasing demand for construction materials accelerated by the Infrastructure Investment and Jobs Act (IIJA). In particular, Sullivan noted that through November 2021, the U.S. as a whole saw a 3.6% year-over-year growth in cement consumption,…

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Construction Spending Ticks Up in February

The U.S. Census Bureau reported that construction spending during February 2022 was estimated at a seasonally adjusted annual rate of $1,704.4 billion, 0.5% (±0.7%) above the revised January estimate of $1,695.5 billion. The February figure is 11.2% (±1.2%) above the February 2021 estimate of $1,533.3 billion.  During the first two months of this year, construction spending amounted to $237.8 billion,…

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