The value of architectural glass-related nonresidential construction increased substantially in the second month of 2022. Glass industry-relevant construction spending increased by 5% in February 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. “Spending” and “activity” are used interchangeably and represent the value of ongoing glass-relevant construction during a particular period.
Commercial glazing increased over 10% in February from the same time a year ago. This followed 8% year-over-year increases in December and January. The office segment was up close to 7% despite another steep decline of nearly 27% in lodging activity. The remaining key commercial categories combined for a strong 18% uptick.
The institutional side of nonresidential glass and glazing activity is beginning its turnaround with a slower decline of less than 1%, signaling an expansion is on the way. Institutional was led by a near-11% year-over-year increase in healthcare building, which helped offset a 4% decline in educational construction.
On a month-to-month basis, overall nonresidential glass and glazing activity edged down by a half-percent, with slight dips in both commercial and institutional.
Nick St. Denis is the director of research for Key Media & Research, parent company of USGlass magazine and USGNN™. For more detailed insights, subscribe to his free quarterly glass and glazing update HERE.