The value of nonresidential architectural glass and glazing spending declined in February, according to Key Media & Research (KMR), a leading data and information provider to the glass industry.
Nonresidential glass construction fell by 6.6%, slightly outpacing a 6.1% dip in overall nonresidential construction spending on a seasonally adjusted annualized rate.
KMR’s glass and glazing activity figures are adapted and modified from the U.S. Census Bureau’s monthly construction spending report, with proprietary weighting and models applied to industry-relevant subsectors.
Every major subsector relevant to glass saw a year-over-year decline.
On the commercial side of nonresidential construction, lodging witnessed a more than 23% drop, while office fell 5% and other commercial dipped by 7.5%. The value of commercial glass and glazing spending fell 8.3%.
Institutional-related architectural glass activity also pulled back, dipping 4.6%. Healthcare construction was down by more than 6%, and educational work declined by just under 5%.
A lone bright spot continues to be public safety construction, which improved by over 25%.
Nick St. Denis is the director of research for Key Media & Research, the parent company of USGlass magazine and USGNN™. For more detailed insights, subscribe to his free quarterly glass and glazing update HERE.