The news just keeps getting Better and Better!! The market for fabricated structural steel is still as vibrant and dynamic as ever. Don’t just take our word for it, here is what the industry experts are saying:
AISC First Quarter 2007 Results:
“First quarter results have been reported by McGraw-Hill and indicate a market share for structural steel of 52%. This compares to a market share for all of 2006 of 50% (over concrete). Particularly significant is the fact the the 1st quarter share is typically lower than the market share for the entire year”.
“…The combined growth in square footage and share would equate to an additional 400,000 tons of structural material (wide flange, angles, channel, HSS) reflecting both non-residential and multi-story residential constructions.
These trends are confirmed by the feedback received from (AISC) fabricator members through the interactive Business Barometer…”
American Institute of Architects:
The Architecture Billings Index (ABI), a leading economic indicator of construction activity, continues to reveal solid demand for nonresidential design activity. The American Institute of Architects (AIA) reported the April ABI rating was 52.7 (any score above 50 indicates an increase in billings), nearly identical to the previous mark of 52.6.
Importantly, inquiries for new projects shot up a full two points to 63.8 – up from 61.8 – the previous month. With an approximate nine to twelve month lag time between architecture billings and construction spending, this news continues a forecast that remains favorable for the nonresidential construction market throughout 2007 – and beyond.
Engineering News Record 5/28/07:
The total private nonresidential building market shows a robust growth of 17% above the first quarter of last year. The largest percentage year-to-year gain over 2006’s first quarter included a 57% increase in new construction put-in-place for hotels and motels and a 31% increase in office building work. Health care, private education, communications and manufacturing markets all posted double-digit gains over last year.