With glass being as prevalent as a building material as it is, companies like Ecotech Glass are enjoying the rewards of providing a demanded service. In the US, glass-heavy construction may have taken a small hit during the February to March transition, but the yearly gains have shown a considerable amount of promise.
According to a USGNN analysis of data from the US Census Bureau, the glass-heavy office sector experienced a 2.5% decline during the transition from February to March, but experienced a growth of 15.7% from last year. Construction starts for the sector have totalled to $73.3 B at a seasonally adjusted, annualized rate.
The date matches with the outlooks and predictions of the US’s contract glaziers, a few of which made statements in the 2017 Glass and Glazing Industry Outlook, saying that they were expecting a notable increase in the demand for their services, primarily in the office sector, complimenting what would be expected of the healthcare, educational and commercial sectors.
The commercial sector noted a 10.9% increase for 2017, climbing up to $80.5 B, countering the 3.4% dip for the same timeframe as the office sector. Educational building also experienced a decline for the month, clocking in at 3.4%, with an annual growth of 1% from March of 2016 to the following year. Healthcare construction inverted the trend, with a 1.7% percent increase for the month, but a 1.4% decrease for the year period.
All non-residential construction, however, was experiencing a 1.2% decline on a monthly basis, with a 1% percent annual growth. This minute growth was also countered by declines in manufacturing building construction and transportation, measuring in at 9.7% and 12.3% respectively.
The numbers met mixed reception. Some professionals see it as a sign of the growth of the construction industry, noting that the monthly declines are not indicative of the status of the market, which has been showing good annual growth regardless. Construction spending in March clocked in at $1.218 T, not too far from the previous month’s data, whilst the change from January to March was recorded in at 4.9%. Certain companies are seeing this as a sign that provide construction related services, such as Ecotech Glass, will be more in demand overtime.
Some, however, are pointing out the monthly decrease as a sign of the commercial real estate market losing its momentum.