Ken Simonson
Ken Simonson
center climbed commercial grew growth hospital nearly office segments several shopping swelling warehouse
On a two-month basis, there were several segments that showed exceptional growth. Shopping center construction leaped 61%, after swelling nearly 40% in 2005 and 25% in 2004. Hospital construction grew 22%, while manufacturing and commercial warehouse construction climbed 20%. The previously lackluster office segment was up 18%.
among case categories comparing december grew growth increased major private public rose
As was the case for most of the year, growth was well distributed among the major construction segments. Comparing December 2005 to December 2004, public construction grew 10%, private residential construction rose 9.0%, and private nonresidential was up 6.0%. For the year, those categories increased 8.0%, 11%, and 5.0%, respectively.
among eight five grew growth higher major months nine past percent private public segments several steady total
Growth has been steady and well distributed among the major construction segments for the past several months. For the first 11 months of 2005, total construction was nine percent higher than in same months of 2004. Private residential construction grew 11 percent, public construction, eight percent, and private nonresidential, five percent.
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Whether the recovery from Katrina adds to demand for construction materials depends on the types and speed of rebuilding in damaged areas.
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I think we're in for a prolonged period in which construction materials costs are going to rise more rapidly than consumer costs.
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Last year, 32 states and the District of Columbia were short of cement. Many will have worse shortages this year,
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Today's report on construction spending shows the industry is hitting on all cylinders with strong, balanced growth.
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It showed a little more success than I had expected.
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Construction spending in November outpaced even the upwardly revised October and September totals.
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It's an eerie challenge. You don't want to leave the roof uncovered in a place like that.
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You have a lot of home construction that will be affected by that. How much remains to be seen.
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Consumers who are doing repairs or additions to their home will notice the effect when they buy a bag of cement.
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Contractors use a lot of diesel fuel to power bulldozers, trucks, and other heavy equipment. And many building materials industries, such as copper and steel, are energy intensive.
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Fast-rising materials and fuel costs have exaggerated the growth in some of these categories, especially highway construction.