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 remained slightly above 50 (neutral) in May 2019 at 50.2 points, with the Midwest region and the Mixed Practice sector in the lead.
In June 2019, the Housing Market Index (HMI) was at 64 with decreased performance in the current, future and traffic components of the index.
Construction Update
In May 2019, housing permits reflected an annual rate of 1.29M, 0.5% down from their year-ago rate with a decrease in Single-family but an increase in Multi-family permits.
Also, housing starts in May 2019 were 4.7% below their year-ago rate with 1.27M starts, with a decrease in Single-family, but an increase in Multi-family starts.
626K new Single-family homes were sold in May 2019, 3.7% below the year-ago rate.
Economic Update
The third estimate of real GDP growth for Q1 2019 was 3.1%, a 0.9% increase from the previous quarter's estimate of 2.2%.
The Associated Builders and Contractors (ABC) reported a 9.0% decrease from March in their Construction Backlog Indicator (CBI) to 8.7 months of backlog in April 2019.
