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. |
[New Orleans also was the] leading port for cement importation through the first half of 2005, ... So, whether those terminals received physical damage or are shut down because there are not enough personnel, it will cause wider cement shortages. |