Nonresidential glass and glazing construction activity continues to expand as 2018 nears its end, according to Key Media & Research’s (KMR) analysis of the Census Bureau’s latest construction spending report.
The value of nonresidential glass and glazing work increased 1.1 percent from August to September and 7.3 percent from October 2017 to October 2018 on a seasonally adjusted annualized rate, KMR projects.
The year-over-year gains were right on par with overall nonresidential construction spending increases, but the month-over-month uptick for glass and glazing work was a full 1 percent higher than the total nonresidential spending increase (0.1 percent).
Also in October, residential construction decreased a half-percent month-over-month but was up 1.7 percent from the same time last year.
The lodging and office sectors again were the segment leaders in year-over-year change, with lodging construction spiking 18.9 percent from the same time last year and office construction jumping 14.8 percent.
The encouraging construction spending report was followed by strong construction employment numbers earlier this month.
According to the Bureau of Labor Statistics, the nonresidential specialty trades contractors sector increased employment by 3.7 percent from November 2017 to November 2018. Employment in that group, which includes glaziers, ironworkers and building exterior contractors, edged down slightly from October to November.
Also according to the BLS report, hourly earnings in construction continue to rise and are up just under 4 percent from a year ago.