...Improvement in Construction Spending: Overall U.S. construction spending improved 8.3% to $196.6 billion during first-quarter 2014 from $181.6 billion during first-quarter 2013. Spending for private residential construction remained robust, advancing 16.7% yoy, while private nonresidential construction spending grew 8.3% during the quarter. Total public construction spending fell 2%, although highway and street spending improved 8.1% during the quarter. Fitch Ratings expects total U.S. construction spending will increase about 8% during 2014. Inclement Weather Slowed Momentum: Harsh weather during the quarter impacted demand for construction materials such as aggregates, cement and coatings. Regions less affected by adverse winter conditions reported higher demand for these products compared with the Midwest and northeastern U.S. Volume Trends: In general, volumes were higher during the first quarter for paint, wallboard, cement and aggregates. Volume growth for certain materials such as...
