According to data recently released by the USGS for July 2019, 121,605 tons of Portland cement was shipped to Alabama during the period. The tonnage represents a growth of 10.2% in comparison to July 2018. Comparing July 2019 tonnage to June 2019, the state experienced a growth of 8.5% month over month. July’s growth broke the one-month downturn in cement shipments the state experienced in June.
Utilizing the cement shipments to estimate ready mix yardage for July 2019, we estimate 450,303 cubic yards of concrete was placed during the month. For the year, ready mix yardage is 9.6% ahead of 2018 totals.
Reports this month by the National Homebuilders Association demonstrate residential construction remains strong. Builder confidence in the market for newly built single-family homes rose three points to 71 in October, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Sentiment levels are at their highest point since February 2018.
The AIA’s Architectural Billing Index paints a mixed message for construction spending. The September index dropped 4 points to 49.1 from the previous month’s 53.7 dropping. The ABI reflects the approximate nine to twelve month lead-time between architecture billings and construction spending.Trendlines Newsletter