U.S. heating and cooling equipment shipments in January slipped 1.7% from December to 1.82 million units, according to recent data from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). Total shipment levels were down 1.3% from those seen one year prior. The highest level was seen last June when 2.32 million units were shipped in a single month. Recall that […]
The semiconductor shortage that has hamstrung North American automakers for the better part of two years is still causing production headaches. Stellantis is the latest carmaker to report delays due to the lack of microchips. The Auburn Hills, Mich.-based automaker has extended the downtime at its Belvidere Assembly Plant for a second straight week, a company […]
The U.S. construction sector added 60,000 new workers to payrolls in February, while hourly wages climbed at the steepest pace in nearly 40 years, reports the Associated General Contractors of America (AGC) in its latest analysis of government data. “All segments of construction added workers in February,” said Ken Simonson, AGC’s chief economist. “However, filling […]
While 29 states now employ more construction workers than before the pandemic, construction employment is still below February 2020 levels in 21 states and D.C., underscoring how spiking materials prices and tight labor markets are undermining the sector’s recovery, said the Associated General Contractors of America. “Employment has risen in most of the nation over […]
The Dodge Momentum Index rose in February by 4.0%, rebounding from three consecutive months of declines, according to data and analytics from the Dodge Construction Network. The index registered 158.2 last month, up from January’s revised reading of 151.9. In February, commercial planning moved 1.0% higher while institutional planning rose by 9.0%. The index reached […]
The global chip shortage continues to dog North American auto assembly plants more than a year after the issue first resulted in widespread production outages. Among the automakers impacted this week are Dearborn, Mich.-based Ford Motor Co. and Stellantis, the European parent company of Auburn Hills, Mich.-based Chrysler. Chrysler’s Belvidere, Ill., assembly plant – which makes […]
U.S. construction spending in January totaled $1.68 trillion at a seasonally adjusted annual rate, boosted 1.3% by strong outlays on single-family homebuilding and private nonresidential structures, the Commerce Department reported. The gain is even more significant given December data was revised higher to show construction outlays rising 0.8% instead of 0.2% as previously reported. January’s […]
Construction spending rose in January with strong gains in private nonresidential and residential construction, but mixed results for public spending, reported the Associated General Contractors of America (AGC). “Private nonresidential construction, especially for manufacturing plants, has rebounded sharply in recent months, while demand for housing remains strong,” said Ken Simonson, AGC’s chief economist. “But public […]
Toyota Motor Corp. will suspend Japanese automotive production on Tuesday, Mar. 1, because of a system failure at a supplier of plastic parts and electronic components, a company spokeswoman confirmed to Steel Market Update (SMU). Kojima Industries Corp, the supplier in question, said the complete system failure might be the result of a cyber-attack. An investigation […]
The outlook for multifamily construction closed the year on a positive note, as confidence in the market for new multifamily housing improved in the fourth quarter of 2021, according to the National Association of Home Builders’ (NAHB) Multifamily Market Survey (MMS). The MMS’s two separate indices saw mixed results. The Multifamily Production Index (MPI) gained […]
Ford Motor Co. will idle some production of the F-150 pickup, the carmaker’s best-selling vehicle, due to the ongoing global semiconductor chip shortage, a company spokesperson told Steel Market Update (SMU). Ford’s Kansas City Assembly Plant in Claycomo, Mo., will begin the week-long downtime on Monday, Feb. 28. The Dearborn, Mich.-based automaker said the disruption […]
Sales of new single-family homes fell in January following a sharp upwardly revised reading the month prior. Last month’s 4.5% decline in new homes sales resulted from rising interest rates. The seasonally adjusted rate of 801,000 was steady because demand remains strong, the U.S. Department of Housing and Urban Development and the U.S. Census Bureau reported. […]
Builder confidence fell again in February despite strong demand from buyers, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Home builder sentiment fell for the second straight month on ongoing building material production bottlenecks, which have pushed up construction costs and delayed projects. February’s HMI reading moved one point lower […]
Housing starts fell in January as builders reported continued supply-chain troubles leading to construction delays, according to the latest data from the U.S. Census Bureau and the Department of Housing and Urban Development. Despite the slow start to the year for new construction, building permits increased at a solid pace in January, signaling strong demand […]
Prices contractors pay for construction materials jumped more than 20% in January versus the same period a year ago, reports the Associated General Contractors of America (AGC) in its latest analysis of government data. The results have led AGC to urge federal officials to take additional steps to ease the industry’s challenges associated with volatile materials […]
Production at North American auto plants has begun to return to normal now that truckers protesting vaccine mandates have been removed from the Ambassador Bridge over the U.S-Canada border – a major supply route for the North American auto industry. Following a week-long blockade, traffic flow over the bridge Sunday night was a welcome sight for […]
U.S. heating and cooling equipment shipments in December rose 3.7% from November to 1.85 million units, according to recent data from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). Total shipment levels are up 2.4% from those seen one year prior. Recall that 2020 monthly shipment levels were somewhat erratic; shipments in the second quarter were significantly impacted […]
Ford, Toyota and Honda continued to see production disruptions at various factories due to ongoing protests by anti-vaxxers blocking the Ambassador Bridge, the busiest international border crossing in North America. The auto industry has struggled to get parts over the U.S.-Canada border as the protest by truck drivers at the bridge had entered its fifth […]
General Motors, Ford, Toyota, Honda and Stellantis have all been forced to temporarily halt production at assembly plants in the U.S. and Canada due to truckers that are blocking critical roadways in protest of COVID vaccine mandates. Detroit-based GM, the largest of the “Big Three” automakers in the U.S., was forced to cancel two production shifts […]
North American auto assemblies expanded in January after falling to 2021’s second lowest monthly total in December. January’s production total was up 12.6% sequentially, but down 4.1% from the same month last year. Supply-chain and microchip limitations continue to impact the automotive sector despite broad production improvements across North American automakers. As a result, assembly […]
The Dodge Momentum Index fell in January by 7.0% and to a four-month low, according to data and analytics from the Dodge Construction Network. The index registered 152.9 last month versus a revised December reading of 163.7. In January, commercial planning fell 9.0% while institutional planning moved 1.0% lower. The index had a stellar 2021, […]
Ford Motor Co. and Stellantis N.V. – Chrysler’s European parent company – are temporarily halting or have recently halted production at some assembly plants because of the continuing global microchip shortage. Ford will idle production at its Chicago Assembly Plant and its Michigan Assembly Plant in Wayne, Mich., from Feb. 3-13. The downtime will impact production […]
U.S. construction spending edged up in December, though monthly outlays were down in nearly a dozen nonresidential subcategories. Construction spending rose 0.2% above the upward revised November figure and 9.0% above the same year-ago period, the Commerce Department reported. The Census Bureau’s report on construction shows spending on private construction projects rose 0.7% in December. […]
Construction employment in December remained below pre-pandemic levels in more than half of U.S. states as firms struggle to find enough workers to hire, reports the Associated General Contractors of America in its latest analysis of government data. AGC hopes that this week’s decision by the Biden administration to withdraw its emergency vaccine mandate will ease […]
U.S. auto sales fell further in December to 1.2 million units, down 26.4% versus the same year-ago period, according to LMC Automotive. The results caused the selling rate to decelerate to 12.4 million units annually, compared to 12.9 million units the month prior. Low inventories continued to plague the market and were the chief cause […]
Though supply-chain bottlenecks, semiconductor scarcity and labor issues have improved for North American automakers, experts anticipate pockets of disruption lingering for much of H1 2022. Stellantis – Chrysler’s European parent company – said the automaker’s assembly plants in Belvidere, Ill., and Toluca, Mexico, are back up and running after recent downtime. Yet, its assemblies in Brampton […]
Existing-home sales contracted in December, snapping a streak of three consecutive months of gain, reported the National Association of Realtors. Although sales fell in all four U.S. regions last month on both a month-over-month and a year-over-year basis, overall sales for 2021 were up 8.5% versus the prior year. December sales fell 4.6% from November […]
Builder confidence slipped in January, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Growing inflation concerns and ongoing supply-chain disruptions snapped a four-month rise in home builder sentiment even as consumer demand remains robust. January’s HMI reading moved one point lower to a reading of 83. “Higher material costs and […]
U.S. heating and cooling equipment shipments in November declined 12.9% from October to 1.78 million units, according to recent data from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). However, November shipment levels are up 7.6% from those seen one year prior. Recall that 2020 monthly shipment levels were somewhat erratic; shipments in the second quarter were […]
Toyota has reduced its North American production schedules for the second month in a row because of shortages stemming from COVID-19 and supply-chain bottlenecks. The Japanese automaker said on Tuesday that its North American assembly plants would make approximately 25,000-30,000 fewer vehicles than initially projected in February. That number could change because “the situation remains fluid,” […]