The Dodge Momentum Index (DMI), issued by Dodge Construction Network (DCN), rose 0.1% in January to 184.1 (2000=100) from the revised December reading of 183.9. Over the month, commercial planning fell 1.0% and institutional planning improved 2.1%. “Divergent trends between commercial and institutional planning continued in January, nullifying any growth on the overall Momentum Index,” stated Sarah Martin, associate director…
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Railroad Aggregates Volumes Down in January
The Association of American Railroads (AAR) reported U.S. rail volumes for January 2024. U.S. railroads originated 1,025,168 carloads in January 2024, down 7.2%, or 79,725 carloads, from January 2023. U.S. railroads also originated 1,206,014 containers and trailers in January 2024, up 5.5%, or 63,195 units, from the same month last year. Combined U.S. carload and intermodal originations in January 2024…
Read MoreConstruction Spending Rises for Month, Full-Year 2023
Construction spending during December 2023 was estimated at a seasonally adjusted annual rate of $2,096.0 billion, 0.9% (± 0.8%) above the revised November estimate of $2,078.3 billion. The December figure is 13.9% (±1.5%) above the December 2022 estimate of $1,840.9 billion.
Read MoreNew Home Sales Bounce Back in December on Lower Mortgage Rates
Falling interest rates in the closing weeks of 2023 helped to bring buyers off the sidelines and provide a boost for new home sales. Sales of newly built, single-family homes in December increased 8.0% to a 664,000 seasonally adjusted annual rate from an upwardly revised reading in November, according to newly released data by the U.S. Department of Housing and…
Read MoreSingle-Family Starts Down in December but Post Solid Showing
In a sign that lower mortgage rates continue to boost the housing market, single-family production surpassed the million mark for the second straight month in December.
Read MoreDodge Momentum Index Rises in December
The Dodge Momentum Index (DMI), issued by Dodge Construction Network, rose 3% in December to 186.6 (2000=100) from the revised November reading of 181.5. Over the month, commercial planning grew 1.0% and institutional planning improved 6.1%.
Read MoreConstruction Starts Rocket in December
Total construction starts grew 20% in December to a seasonally adjusted annual rate of $1.12 trillion, according to Dodge Construction Network. Nonresidential building starts rose 37% during the month, while residential starts gained 8% and nonbuilding starts improved by 13%.
Read MoreGreat Lakes Limestone Trade Down Slightly in 2023
Shipments of limestone on the Great Lakes totaled 28.6 million tons in 2023, a decrease of less than 1% compared to 2022. 2023’s loadings were below the trade’s five-year average by 1.1%, according to the Lake Carriers’ Association. Loadings from U.S. quarries increased less than 1% from the prior year to 23.1 million tons. However, shipments from U.S. quarries were…
Read MoreConstruction Spending Ticks Up in November
Construction spending during November 2023 was estimated at a seasonally adjusted annual rate of $2,050.1 billion, 0.4% (±1.0%) above the revised October estimate of $2,042.5 billion. The November figure is 11.3% (±1.5%) above the November 2022 estimate of $1,842.2 billion. During the first 11 months of 2023, construction spending amounted to $1,817.1 billion, 6.2% (±1.0%) above the $1,711.1 billion for…
Read MoreNew Home Sales Down in November
Elevated mortgage rates acted as a drag on new home sales in November, but with the peak rate cycle apparently in the rear-view mirror, sales are expected to rise as we move into the new year. Sales of newly built, single-family homes in November fell 12.2% to a 590,000 seasonally adjusted annual rate, according to newly released data by the…
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