News
02/01/25
US construction spending flat, PVC demand falls in Nov
Houston, 2 January (Argus) — US construction spending was virtually flat in
November compared with the previous month as private and public spending offset
one another, according to the US Census Bureau. US polyvinyl chloride (PVC)
contract prices declined by 1¢/lb in November to 57.5¢/lb, according to Argus .
Producers faced pressure during the month as the softening US construction
sector failed to absorb recent PVC capacity additions that had come on line.
Formosa added an additional 130,000 metric tonnes (t) of PVC capacity to its
Baton Rouge, Louisiana, plant in the mid-third quarter. Shintech added
380,000t/yr of nameplate PVC capacity to its Plaquemine, Louisiana, plant in the
fourth quarter. PVC buyers increasingly focused on inventory management in
November, further constraining demand. Many buyers and converters wished to
avoid being oversupplied as the end of the year approached due to modest demand
growth expectations for 2025. Private residential spending grew for the second
month in a row after a sharp decline in September, but recovery slowed in
November. Public spending fell for the second-straight month, offsetting minimal
gains in private spending. Public spending was virtually flat or slightly down
from the prior month in various major categories. Private manufacturing
investment was above 10pc year over year, but sustained monthly growth has
stalled. A small boost in commercial spending does not reverse year-over-year
decline. By Aaron May US Construction Spending $mn Column header left 24-Nov
24-Oct +/-% 23-Nov +/-% Total Spending 2,152,581.0 2,152,250.0 0.0 2,090,690.0
3.0 Total Private 1,650,665.0 1,649,758.0 0.1 1,610,750.0 2.5 Private
Residential 906,201.0 905,149.0 0.1 879,069.0 3.1 Private Manufacturing
234,917.0 235,231.0 -0.1 211,541.0 11.1 Private Commercial 118,206.0 118,127.0
0.1 130,707.0 -9.6 Total Public 501,916.0 502,491.0 -0.1 479,940.0 4.6 Public
Water/Sewage 79,018.0 79,207.0 -0.2 71,683.0 10.2 Public Highway/Road 142,908.0
142,682.0 0.2 148,143.0 -3.5 US Census Bureau Send comments and request more
information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All
rights reserved.