Quarry Equipment Marketplace

SEP 2018

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Page 20 of 39

September 2018 QEM – Quarry Equipment Marketplace Page 21 Regards, Mark Kuhar, Editor Rock Products Magazine Mining Media International million), Verona, Wis., ($183 million) and Madera, Calif. ($179 million). Of the smaller institutional categories, public buildings (courthouses and detention facilities) registered a 12 percent gain in June, but declines were reported for transportation terminals, down 16 percent; religious buildings, down 35 percent; and amusement-related projects, down 37 percent (from a May that included groundbreaking for the $764 million expansion to the Washington State Convention Center in Seattle). Despite its decline, the transportation terminal category did include the June start of the new $374 million North Concourse terminal at Reagan National Airport in Arlington, Va. Residential Building Residential building in June was $323.0 billion (annual rate), up 4 percent. Multifamily housing grew 9 percent in June, advancing for the second month in a row after weak activity in April. There were seven projects valued each at $100 million or more that were reported as construction starts in June, compared to six such projects in May. The large June projects included the $213 million Aston Martin multifamily tower in Miami, the $195 million multifamily portion of the $260 million Essex Crossing mixed-use building in New York and the $186 million multifamily portion of a $215 million mixed-use tower in Boston. Nonbuilding Construction Nonbuilding construction in June dropped 28 percent to $171.0 billion (annual rate), sliding back after the 37 percent increase that was reported for May. The public works categories as a group dropped 34 percent in June after May's 44 percent surge. To a large extent, the recent up-and-down pattern shown by public works was related to the volatility exhibited by the miscellaneous public works category, which includes pipelines, mass transit and site work. The miscellaneous public works category plunged 67 percent in June following May's 161 percent increase. May included three substantial natural gas pipelines as construction starts (the $2.1 billion Mountaineer Xpress Pipeline, the $1.9 billion Gulf Coast Express Pipeline, and the $600 million Gulf Xpress project) plus two large rail projects (the $1.4 billion Westside Purple Line Extension in Los Angeles and the $1.1 billion Green Line Extension in Somerville, Mass.) By contrast, the two largest miscellaneous public works projects entered as June starts were a $576 million segment of the Atlantic Coast natural gas pipeline in West Virginia and a $280 million rail project at Phoenix Sky Harbor International Airport. At the same time, both pipeline and rail-related construction starts have stayed strong during the first half of 2018, with pipeline starts down only 15 percent from a robust first half of 2017 while rail-related starts were up 53 percent compared to last year. The environmental public works categories in June weakened from their May amounts, with water supply construction down 9 percent, river/harbor development down 15 percent, and sewer construction down 58 percent. Highway and bridge construction was the one public works category to show growth in June, climbing 25 percent with the help of such projects as the $312 million I-95 South highway widening project in the Philadelphia area and the $270 million I-85 North highway widening project in the Atlanta area. The electric utility/gas plant category in June improved 73 percent from a weak May, with the lift coming from five new wind farms located in Iowa ($375 million and $108 million), Kansas ($300 million), Michigan ($261 million), and Minnesota ($158 million). Year-to-Date Through the first six months of 2018, total construction starts on an unadjusted basis were $395.7 billion, up 1 percent from the same period a year ago. If the volatile electric utility/gas plant category is excluded, total construction starts during the first six months of 2018 would be up 3 percent relative to last year. The 1 percent increase for total construction starts on an unadjusted basis for the first six months of 2018 compared to last year was due to a mixed performance by major sector. Nonresidential building year-to-date dropped 3 percent, due to this pattern by segment – commercial building down 8 percent, institutional building down 6 percent, and manufacturing building up 49 percent. Residential building year-to-date rose 6 percent, with multifamily housing up 8 percent and single family housing up 5 percent. Nonbuilding construction year-to-date was essentially even with last year, with public works up 9 percent and electric utilities/gas plants down 48 percent. end of 2017. By region, the first half of 2018 showed this performance for single family housing compared to last year – the West, up 11 percent; the South Atlantic, up 5 percent; the South Central, up 4 percent; the Northeast, up 2 percent; and the Midwest, up 1 percent.

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