Data recently released by the United States Geological Service shows 138,815 tons of cement were shipped to the state during the month of May. Cement shipments grew by 6.9% over the same month in 2021. Shipments slipped 1.3% from April’s total. Portland limestone cement (PLC) represented 40% of the cement total for the state as 4 out of the 5 cements had made the switch to PLC production.
Looking to ready mix volumes, we estimate 507,411 cubic yards of concrete were placed during the month.
The NAHB housing market index dropped from 60 to 54 for the month of August in the South. The South Region is now the only market with a total above 50, which is considering a growing market. Historically high prices and a rising interest rates will likely continue to drag down the housing market for the near future. The AIA billing index held steady at 53 during the month of June. The index is considered a good barometer of upcoming commercial construction. A number over 50 is considered positive.