Home > News > Industry News > Glass and Glazing Spending Up for Year, Down for Month

Glass and Glazing Spending Up for Year, Down for Month

Post Time:Aug 10,2022Classify:Industry NewsView:949

The value of architectural glass-related nonresidential construction was higher in June compared to a year ago. Spending on glass and glazing activity increased 2.6% year-over-year on a seasonally adjusted annualized basis, according to Key Media & Research (KMR), a leading information provider to the glass industry.

KMR’s glass and glazing activity figures are adapted and modified from private and public construction spending data, with proprietary weighting and models applied to industry-relevant subsectors.

On a month-to-month basis, overall nonresidential glass and glazing activity edged down by just under a half-percent for the second straight month.

“June’s numbers were lukewarm for the most part,” says Nick St. Denis, KMR’s director of research. “The near-3% increase from 2021 is a positive, though this is far from a break-even point when accounting for the inflation spike the industry has seen in material prices. The month-over-month decline is less than ideal, as well.

“Backlogs and volume of activity over the next year or so appear to be strong, but we will be keeping a close eye on the industry-relevant price indexes over the next several months to see if price increases finally start to moderate. If they don’t, project owners may pull back — if they haven’t done so already.”

Commercial glass and glazing-related spending increased by nearly 5% year-over-year despite declines in office and hotel. An uptick in healthcare building coupled with a decrease in educational construction resulted in institutional glass and glazing activity remaining flat.

Source: www.usglassmag.comAuthor: shangyi

Hot News