Steel Markets
July 7, 2020
Construction Put in Place Data for May
Written by Peter Wright
Construction expenditures continued to show a positive but slowing year-over-year growth in May of 1.4 percent, non-seasonally adjusted. Because of the momentum that exists in most construction projects, steel consumption is likely to decline more slowly in building than in manufacturing.
Steel Market Update analyzes Commerce Department Construction Put In Place (CPIP) data to provide a detailed description of activity that accounts for about 45 percent of total U.S. steel consumption. See the end of this report for more information on this analysis.
