According to the U.S. Census Bureau, construction spending during October 2023 was estimated at a seasonally adjusted annual rate of $2,027.1 billion, 0.6% (±1.0%) above the revised September estimate of $2,014.7 billion. The October figure is 10.7% (±1.6%) above the October 2022 estimate of $1,830.5 billion. During the first 10 months of this year, construction spending amounted to $1,646.0 billion,…
Read MoreMonth: December 2023
Single-Family Starts Flat in October
Single-family construction held steady in October as high mortgage rates depressed demand but more buyers turned to new homes because of a lack of existing inventory. Overall housing starts increased 1.9% in October to a seasonally adjusted annual rate of 1.37 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census…
Read MoreThe Year in Review
As the Grateful Dead sang, “What a long, strange trip it’s been.” 2023 has been a year of surprises, excitement, progress and unexpected developments. Going into the first part of the year, I would have bet my last two-dollar bill we would see increased aggregates production in 2023. While the final numbers are not in, it is pretty apparent final…
Read MoreFirst Look – December 2023
TOP NEWS Martin Marietta Materials Inc. announced that it has entered into a definitive agreement to sell its South Texas cement business and certain related concrete operations to CRH Americas Materials Inc., a subsidiary of CRH plc, for $2.1 billion in cash. This on the heels of third quarter Building Materials business revenues of a record $1.9 billion, a 10.5%…
Read MoreMLPA Panel Discussion a Success
Nov. 30, 2023 – The Missouri Limestone Producers Association held an industry panel discussion at its 78th Convention in Lake of the Ozarks, Osage Beach, Mo., and I was honored to serve as moderator. Participants included Chris Schlict, Epiroc; Anne Noonan, CEO of Summit Materials; John Griesemer; Erlen Group and George Reddin, FMI Capital. Topics covered included the state of…
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