The value of nonresidential architectural glass and glazing activity declined again in July, according to glass industry research firm Key Media & Research (KMR). Glass-related nonresidential construction spending decreased 3.2% from July 2019 and 1.7% from June 2020, at a seasonally adjusted annualized rate.
KMR’s glass and glazing activity figures are developed from the U.S. Census Bureau’s monthly construction spending report, with weighting and models applied to industry-relevant subsectors.
Overall nonresidential construction didn’t fare as negatively as glass-related activity, as it was buoyed by segments that are irrelevant to glazing contractors.
In July, commercial glass and glazing activity declined 4.6% from the same time a year ago, again driven by notable decreases in lodging construction and office activity.
On a month-over-month basis, glass-related commercial construction spending edged down 1.5%.
After several months of propping up glass and glazing construction activity, the value of work on institutional buildings fell 1.6% in July year-over-year and 2.1% month-over-month.
While healthcare construction increased 1% from the same time a year ago, it was down 2.8% compared to the previous month. Educational building declined both year-over-year and month-over-month at rates of 5.6% and 2.6%, respectively.
For more in-depth analysis, Key Media & Research’s Glass and Glazing Quarterly Review is an information-packed, one-page snapshot of the previous quarter’s activity and is free for industry members. To subscribe to the quarterly report, click here.
Note: St. Denis will present an updated economic forecast during GlassCon Global VE-Glass Expo VE next week on Thursday, September 10 at 4:30 p.m. This event is free to USGNN™ readers. Register at www.glassexpove.com using promo code USGE.
Nick St. Denis is the director of research at Key Media & Research, parent company of USGlass magazine.