Every two weeks, we prepare a report focused on understanding market intelligence and analyzing construction industry data and trends.
This in-depth report is developed primarily for internal distribution, but because we want to keep construction professionals like you informed about the industry, we make this report available to anyone who's interested in reading it.
What's New In This Report?
Highlights
The ABI for July 2019 rose to 50.1 points, slightly above the 50(neutral), with the West region and the Residential sector in the lead.
The annualized value of Construction Put-in-Place was $1.29T in July 2019, 2.7% below its year-ago activity.
Construction Update
In July 2019, housing permits reflected an annual rate of 1.34M, 8.4% above their year-ago rate with a decrease in Single-family, but an increase in Multi-family permits.
However, housing starts in July 2019 were 0.6% above their year-ago rate with 1.2M starts, with an increase in Single-family, but a decrease in Multi-family starts.
635K new Single-family homes were sold in July 2019, 4.5% above the year-ago rate.
Economic Update
The second estimate of real GDP growth for Q2 2019 was 2.0%, a 1.1% decrease from the previous quarter's estimate of 3.1%.
The Associated Builders and Contractors (ABC) reported a 1.3% decrease from May in their Construction Backlog Indicator (CBI) to 8.8 months of backlog in June 2019.
