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Architectural glass and glazing spending was up in July compared to a year ago. The value of glass-related nonresidential construction activity increased 4.5% 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 up by just under half a percent.
“July’s numbers were positive for a variety of reasons,” says Nick St. Denis, KMR’s director of research. “The rate of increase on the commercial side of nonresidential was higher than we saw in June. Additionally, the institutional segment finally showed an uptick after several months of no growth.
“Another good sign: the year-over-year growth rate is edging closer to the rate of material price inflation in the industry — though there is still a long way to go in that regard.”
Commercial glass and glazing-related spending jumped over 6% year-over-year despite minor declines in office and hotel. Healthcare building continued its strong increase, and a turnaround in the educational sector helped the institutional segment see its first increase in some time.
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.
