Steel Markets
June 4, 2020
Construction Put in Place Data for April
Written by Peter Wright
Total U.S. construction declined by 2.9 percent in April, compared with March, on a seasonally adjusted basis. On a non-adjusted basis, data for April had a positive growth of 2.3 percent, which was unusually low for this time of year. Normally April expenditures are about 8 percent higher than March.
On a year-over-year basis and using a three-month moving average (3MMA), April had positive growth of 5.0 percent. Because of the momentum that exists in most building projects, we expect steel consumption in construction to decline more slowly than in manufacturing due to the coronavirus.
