In the second month of 2022, the value of non-residential buildings related to architectural glass increased significantly. Glass-related construction spending rose 5% year-on-year in February on a seasonally adjusted basis, according to glass industry information provider KMR.
Table 1 Annual change in the value of glass and glass construction activities for non-residential construction in the United States
|Glass and Glass Events|
February 2021 - February 2022
January 2022 - February 2022
Source: KMR data
KMR's glass and glazing activity data is adjusted and modified from private and public construction spending data, with proprietary weights and models applied to industry-relevant sub-sectors. 'Expenditures' and 'activities' are used interchangeably and represent the value of glass-related construction carried out during a specific period.
Prices for commercial glass rose more than 10% in February from a year earlier, an 8% increase from December and January last year, and while construction activity for rental housing fell sharply by another nearly 27%, the office sector has That's up nearly 7%, and the rest of the major business categories combined are up 18%.
Figure 1 The non-residential glass and glass construction 1
Non-residential glass and glass construction activity for institutional use is starting to pick up, falling less than 1%, signaling that growth is on the horizon. The institutional side was dominated by healthcare buildings, up nearly 11% year over year, which more than offset a 4% decline in construction in the education sector.
Overall, non-residential glass and glass construction activity fell 0.5% month-on-month, with both commercial and institutional construction activity down slightly.
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