U.S. glass-related market segments declined month-on-month but still increased year-on-year.
According to glass industry information provider KMR, the value of non-residential construction activity related to glass and glass in the United States fell slightly in February from January. However, this number is still higher than a year ago, according to Key Media & Research (KMR), a leading information provider in the glass industry.
Glass and glazing activity fell 1.2% every month while rising at a seasonally adjusted annual rate of 9.2% from February 2023 to February 2024.
"Year-over-year growth rates remain strong but are gradually slowing each month," said Nick St. Denis, director of research at KMR. "If the sequential decline continues as we expect, growth in 2024 will be much flatter than what we have seen over the past few years."
Figure 1 The annual rate of glass and glazing activity of 9.2% from February 2023 to February 2024.
“All important institutional building categories continue to thrive, with most seeing double-digit percentage growth compared to the previous year,” Saint-Denis said.
“Education and healthcare led the way, with transportation, public safety, and entertainment/recreation providing support. Key business sectors including offices and accommodations saw year-over-year growth, albeit at a much lower pace.
"However, these subsectors declined from January to February, indicating an expected slowdown in nonresidential activity."
Institutional glass and glass-related spending grew by just over 9% annually, while commercial spending grew by just over 5%. Their monthly declines were 1.4% and 0.9% respectively.
Disclaimer: The above views do not represent the position of LIJIANG Glass, and the copyright belongs to the original author and source. The content of News is the author's personal opinion, and it does not mean that LIJIANG Glass agrees with his opinion and is responsible for its authenticity. LIJIANG Glass only provides references and does not constitute investment and application advice.
