United States of America
Strong demand for single-family housing continues. Incentives to stimulate production in the domestic market are increasing factory construction.
Private residential output increased 0.9% month on month and -10.4% year-on-year in June; Construction permits decreased by 3.7% monthly and -15.3% annually. However, single-family housing permits rose 2.4% month on month to their highest level since June 2022.
Private non-residential output was the same in June compared to the previous month and was 21% year-on-year. Spending on private non-residential structures such as factories remained unchanged, with increases in manufacturing and trade offset by declines in power plants and healthcare spending; The Architectural Billing Index (ABI) fell from 51 to 50.1 in May.
As China's real estate activity declines, authorities are pushing the industry to support it with incentives; infrastructure expenditures support the construction industry.
The 3-month moving average, which started in the ground area, decreased annually to -30% in June; floor space sold fell -22% year on year. Railway, road transport and civil aviation grew by 21%, 3% and 10%, respectively, compared to the previous year.
Activity in the Eurozone is stagnant and confidence in the sector is declining.
Eurozone construction increased 0.2% month on month and 0.3% year on year in May; Buildings were up 0.3% month on month and -0.1% year-on-year; Construction activities increased by 0.1% month-on-month, 3.3% year-on-year.
IHS Markit Eurozone Construction PMI decreased from 44.2 in June to 43.5 in July.
The core index of infrastructure industries hit a five-month high in June.
The weighted average production index of eight core industries increased by 8.2% y-o-y in June; steel production increased 22%; cement increased by 9.4% year-on-year.