The value of nonresidential glass- and glazing-related construction activity dipped slightly in February from January. However, it is still higher than a year ago, according to Key Media & Research (KMR), a leading information provider to the glass industry.

Glass and glazing activity declined by 1.2% on a monthly basis while increasing 9.2% from February 2023 to February 2024 at a seasonally adjusted annualized rate.

“The year-over-year rate of increase remains strong but is slowing incrementally each month,” says Nick St. Denis, KMR’s director of research. “If the month-over-month declines continue as we expect they will, 2024 will finish with much flatter growth than we’ve seen in the past several years.”

KMR’s glass and glazing spending figures are developed using private and public construction spending data, with proprietary weighting and models applied to industry-relevant subsectors.

“All of the important institutional-type building categories continue to flourish, most with double-digit percentage growth compared to the previous year,” says St. Denis. “Education and healthcare lead the way, with transportation, public safety, and amusement/recreation providing support. Key commercial segments, including office and lodging, registered year-over-year increases, albeit at much lower rates.

“However, these subsectors saw declines from January to February, signaling the anticipated slowdown in nonresidential activity.”

Institutional glass and glazing-related spending increased by close to 14% yearly, while commercial spending expanded by a little over 5%. They saw monthly decreases of 1.4% and 0.9%, respectively.

Nick St. Denis is the director of research for Key Media & Research, the parent company of USGlass magazine, USGNN™, and the new glass industry resource GlassData™. For detailed insights, subscribe to KMR’s free quarterly glass and glazing update HERE.

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