The construction engine was firing on all cylinders. |
The demand for concrete has been outstripping supply for several years. We've become more steadily dependent on imports. |
The finance and services sectors reported the highest expectations for capital spending, especially on computers and communications equipment. |
The leading categories have been multi-retail (general merchandise, shopping centers, and shopping malls), up 25 percent year-to-date; manufacturing construction, 23 percent; private multifamily, 21 percent; hospitals, 13 percent; private single-family, 12 percent; and highways and streets, 11 percent. |
There's plenty of cement worldwide, but in the U.S., cement production capacity has leveled off and no one is building more plants. |
They used to throw up houses and try to sell them. Now, they wait for a signed check before they break ground. |
This is a big step forward. |
This marks a real turn around for non-residential construction. I think we will see more real gains in 2005. |
Today's report on construction spending shows the industry is hitting on all cylinders with strong, balanced growth. |
Whether the recovery from Katrina adds to demand for construction materials depends on the types and speed of rebuilding in damaged areas. |
You can't assume contractors will automatically pass on higher costs. |
You have a lot of home construction that will be affected by that. How much remains to be seen. |