Ready Mix Yardage expands from July Totals
Data recently released by the United States Geological Service shows 149,329 tons of cement were shipped to the state during August 2023. Cement shipments rose by 4.5% over August 2022 totals but are .2% below the first 8 months of 2022. The state experienced only the 3rd positive month in relation to the same period in 2022 in August.
Looking to ready mix volumes, we estimate 552,965 cubic yards of concrete were placed during the month.
Ready mix volumes have remained steady during the first eight months but there is a general consensus work has slowed down. Light commercial construction has helped offset reduced placements in the residential market with the spike in interest rates. Anecdotal evidence says architects in Alabama have remained busy and still hiring but the AIA billing index has now been in negative territory for three consecutive months including the south which has fared better than some regions. The Housing Market Index for November 2023 now sits at 34. This is a 49 point drop from November 2021. Anything below 50 is viewed as unfavorable conditions.