Back in March the US Geological Survey (USGS) reported that in 2016 crushed stone production totaled about 1.48 billion tons of crushed stone, valued at $16.2 billion. That number was up 11% over 2015. Along the same lines consumption was also up, and has increased an average of 7% over the same period the previous year. The survey also noted that every quarter since the second quarter of 2013 consumption of aggregate materials has risen.
What this is indicating to us is stronger construction activity and a recovery in both the private and residential sectors. This level of growth hasn’t been seen since late 2005! This also tells us the consumption of aggregates is likely to continue increasing.
Along with aggregate Construction sand and gravel production in 2016 increased in tonnage of 7% over 2015 as well.
Both materials are expected to reach or exceed the historical annual average of the past 50 years which was a 2 to 4 % increase per year.
We’ve seen a lot of construction projects happening, and have had a demand for aggregate materials, so we would agree with the findings of the study from our end.
What does that mean? It seems to us that it’s indicating the construction industry will continue to flourish, providing jobs, and potentially keeping the economy growing. We hope that continues to be the case here in the NY metro area as we head into the second have of 2017.