Month-to-month gain much higher than the usual April-to-May change of 8.0%.
We recently came across some great news that has positive implications for many of our customers in the HVAC industry. According to a report from the CMD Group, construction starts, excluding residential work, soared 30.3% from April to May 2015. This nearly one-third month-to-month gain was much higher than CMD’s usual April-to-May change, due to seasonality, of 8.0%.
We’re hoping statistics like these mean that more work will be on the way for all us as the year progresses. In fact, the report goes on to say that, according to the Bureau of Labor Statistics (BLS), employment in construction increased by 17,000 in May, on top of April’s surge of 35,000. Year-to-date, jobs in construction are up 112,000. And year over year, they are up 273,000, a strong advance. With a 4.5% year-over-year percentage increase in jobs, construction remains a leader among major industry sub-sectors.
It’s a fascinating, and optimistic, read that we encourage you to take a look at for yourself, with information on construction starts in the industrial, commercial and institutional markets. To read the full CMD report, click here.