USGS has released Nonmetallic Mineral Product Industry Indexes for the US in November 2015, with non-metallic mineral products being classified as stone, clay, glass and concrete products.
The industry leading index for the non-metallic mineral products industry increased by 1.3%, to 247.5 in October from 244.3 in September. Its 6-month smooth growth rate increased to 4.3% – this is an upward revision from 2.0% in September. The rise in the leading index growth rate suggests that activity could increase in the non-metallic mineral products industry.
The latest data indicates a 10% rise, year-to-date, in non-residential construction spending, which accounts for two-thirds of all construction spending. Highway maintenance, a major consumer of non-metallic mineral products, is also rising, and seems likely to lift the demand for non-metallic mineral products in the coming months. Demand from residential construction activity is also likely to increase, as home inventories are well below a balanced housing market level. Higher wages, lower interest rates and rising employment could help elevate residential construction activity. Oil and gas well services, another consumer of non-metallic mineral products, is unlikely to generate additional demand unless a disruption in oil supply occurs.
The coincident index, which measures current industry activity, increased 2.7% to 144.5 in October from a revised 140.7 in September. Its 6-month smoothed growth rate increased to 7.1% in October from an upwardly revised 2.1% in September.
Read the article online at: https://www.worldcement.com/the-americas/24112015/nonmetallic-mineral-product-industry-indexes-for-november-2015-56/