Ready-Mix Use Stays Hot in January 2022
Data recently released by the United States Geological Service shows 119,913 tons of cement were shipped to the state during the month of January 2022. Cement shipments grew by nearly 14% over the same month in 2021 but contracted by 5% compared to
Looking to ready mix volumes, we estimate 444,038 cubic yards of concrete were placed during the month. The estimated total is the highest January totals in the past nine years. The state has now set monthly records for the previous period for eight consecutive months. The record demand for concrete since July is a primary factor in the current cement shortage the state is experiencing.
The AIA Billing Index, which is a good barometer for upcoming commercial construction stood at 58 in March. Anything above a 50 is considering positive. However, the Home Builder Sentiment Index slip for the fourth straight month to 77 in April. The Southern region remained above the national average coming in at 82. Thirty-year fixed mortgages have now crossed the 5% mark and are expected to impact home building and real estate.