Total construction starts rose 6% in August to a seasonally adjusted annual rate of $1.2 trillion, according to Dodge Construction Network. Residential starts rose 5%, nonbuilding starts gained 17%, while nonresidential buildings fell 2%.
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According to the U.S. Census Bureau, construction spending during August 2024 was estimated at a seasonally adjusted annual rate of $2,131.9 billion, 0.1% (±1.2%) below the revised July estimate of $2,133.9 billion.
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Satyam Panday, chief U.S. and Canada Economist, S&P Global Ratings, said in his Q4 2024 U.S. Economic Outlook, that The Fed looks set to embark on a steady series of interest-rate cuts.
Read MoreTotal construction starts lost 19% in June, falling to a seasonally adjusted annual rate of $1.0 trillion, according to Dodge Construction Network. Much of the decline was due to a stark decline in utility/gas starts following a strong May that saw several megaprojects get underway. Highway and bridge starts gained 5%. During the month, nonbuilding starts fell 46% (following a…
Read MoreAccording to the U.S. Census Bureau, construction spending during June 2024 was estimated at a seasonally adjusted annual rate of $2,148.4 billion, 0.3% (±1.0%) below the revised May estimate of $2,154.8 billion. The June figure is 6.2% (±1.6%) above the June 2023 estimate of $2,023.0 billion. During the first six months of this year, construction spending amounted to $1,034.8 billion,…
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Total shipments of portland and blended cement, including imports, in the United States and Puerto Rico in April were an estimated 9.23 million metric tons (Mt), a 5.9% increase from shipments in April 2023, according to the most recent USGS Industry Survey. Shipments for the year through April totaled an estimated 30.6 Mt, a slight decrease from those for the same…
Read MoreTotal 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%,…
Read MoreThe 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,…
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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…
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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…
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