The Bureau of Labor Statistics (BLS), Producer Price Index (PPI) program measures the average change over time in the selling prices received by domestic producers for their output. We have witnessed over time that this technique is excellent for measuring price inflation or deflation on construc

Cement consumption ticked up in June after a down month in May. For the three months total (3MMT), ending June, national Portland cement shipments rose by 0.8% on a 3MMT year on year (y/y), basis. Four of the nine census regions posted higher 3MMT cement shipments y/y.

The U.S. construction market continues to perform well having recorded positive growth for 72 consecutive months. Census Bureau non-seasonally adjusted (NSA), constant dollar CPIP data showed that July total construction expenditures grew by 4.1% year on year (y/y), to $1212.2 billion (B).

Existing home inventory in July fell 20,000 units or 1.0% month on month, (m/m) to 1.920 million, (M). On a year on year, (y/y) comparison inventory of existing homes fell 9.0%. Month’s supply was 4.2, down from 4.7 months in July 2016.

The national ABI score for July was 51.9, down 2.3 month on month, (> 50 indicates an increase in billings). The ABI has now been greater than 50 for six months in a row and for nine of the last 12 months.

Total housing starts were reported at a seasonally adjusted (SA), annual rate of 1,155,000 for the month of July, down 4.8% month on month, (m/m). On a three month moving average (3MMA), basis SA total starts came-in at 1,166,000, a negative 1.2% year on year (y/y), growth rate.