Rock Products

JUN 2013

Rock Products is the aggregates industry's leading source for market analysis and technology solutions, delivering critical content focusing on aggregates-processing equipment; operational efficiencies; management best practices; comprehensive market

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Residential Building Residential building, at $198.0 bil‐ lion (annual rate), eased back 1 per‐ cent in April. Single‐family housing in April decreased 1 percent, and during the past two months it has basically leveled off following the steady increases shown over the past year. The rate of activity for single‐family housing in April was still elevated by recent standards – up 20 percent from its average monthly pace during 2012. By region, reduced activity in April was registered by the South Atlantic and the West, each down 5 percent, which slightly outweighed gains in the South Central, up 1 percent; the Midwest, up 4 percent; and the Northeast, up 6 percent. Multifamily housing in April slipped 2 percent from the previous month, although like single‐family housing it was still elevated by recent stan‐ dards – up 19 percent from its aver‐ age monthly pace during 2012. Large projects that supported the multifamily total in April were the following – a $225 million apart‐ ment building in New York, the $191 million apartment portion of a $240 million mixed‐use building in Jersey City, N.J., and a $170 million condo‐ minium tower in Honolulu. Through the first four months of 2013, the top five metropolitan areas in terms of the dollar amount of new multifamily starts were the following – New York, Miami, Boston, Washington, D.C., and Los Angeles. Residential building during the Janu‐ ary‐April period of 2013 climbed 33 percent relative to last year, with similar gains for single‐family hous‐ ing, up 33 percent; and multifamily housing, up 34 percent. Nonresidential Building Nonresidential building in April grew 6 percent to $144.3 billion (an‐ nual rate), showing improvement after a weak March, although still 7 percent below its average monthly pace during 2012. The commercial segment in April was mixed by project type. Office construction climbed 58 percent, lifted by the start of the $400 million Prudential Financial Office Tower 1 in Newark, N.J. Store construction in April increased 5 percent, helped by groundbreaking for such projects as a $46 million shopping center in the Bronx, N.Y., and a $40 million outlet mall in West Palm Beach, Fla. On the negative side, warehouse construction in April fell 11 percent, even with the start of a $70 million distribution center in Bethel, Pa., while hotel construction dropped 9 percent. Manufacturing plant construction, which can be volatile on a month‐to‐ month basis, decreased 49 percent in April. Despite the decline for the category as a whole, manufacturing plant construction did include the April start of a $290 million diesel refinery in North Dakota. The institutional segment of nonres‐ idential building was also mixed by project type in April. The largest percentage gain was re‐ ported for transportation terminals which jumped 238 percent, with the upward push coming from $258 mil‐ lion for terminal work on the Second Avenue Subway line in New York and $100 million for renovation work on Terminal A at Dallas‐Ft. Worth International Airport. Healthcare facilities strengthened in April after a weak March, rising 48 percent with the aid of such projects as an $830 million Stanford Univer‐ sity medical center in Palo Alto, Calif., and a $226 million Emory Uni‐ versity treatment center in Atlanta. Amusement‐related work advanced 6 percent in April, supported by groundbreaking for the $169 million casino portion of a $400 million casino and garage project in Balti‐ more. Educational facilities, the largest nonresidential building category, dropped 19 percent in April. The latest month did include the start of a $100 million high school mod‐ ernization in Washington, D.C., but this was not enough to avert another decline for educational facilities. Weaker activity was also reported in April for public buildings (court‐ houses and detention facilities), down 17 percent; and churches, down 27 percent. Nonresidential building during this year's January‐April period fell 8 percent, weighed down by a 14 per‐ cent drop for the institutional cate‐ gories. Commercial building on a year‐to‐ date basis showed no change from last year, while the manufacturing building category was down a slight 1 percent. E Monthly Construction Starts (Seasonally Adjusted Annual Rates, In Millions of Dollars) April 2013 March 2013 % Change Nonresidential Building $144,255 $136,480 +6 Residential Building $197,956 $200,791 -1 Nonbuilding Construction $130,758 $140,749 -7 TOTAL Construction $472,969 $478,020 -1 ROCKproducts • JUNE 2013 47

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