WEX’s Monthly Construction FCI reflects mixed results
WEX, Inc. has released its WEX Construction Fuel Consumption Index (FCI) results in partnership with IHS, Inc. June’s monthly figures reflected an increase of 2.5% on a year-over-basis, though they were down 0.5% from May’s numbers.
According to an IHS analysis, year-over-year figures provide more reliable insight into the progress of the industry.
"Despite the month-to-month decrease in June for the WEX Construction FCI, the housing market has been showing signs of improvement," read an IHS statement. "Home prices continue to rise as a result of lean inventories, low interest rates, the growing economy and the decreased share of distressed homes. These higher home prices, in turn, are bringing more builders into the market and boosting household wealth."
The FCI measures national fuel consumption for the construction industry in an effort to quantify construction activity in the U.S. WEX and IHS collect data from a closed loop network that includes over 90% of domestic retail fuel locations.
The FCI is habitually released in advance of U.S. Census Bureau figures on construction spending.
WOLF’s Key Buyer Index registers seasonal lag for July
Cabinet and building products supplier WOLF has released the findings of its proprietary WOLF Key Buyer Index (KBI) for July. The score of 59.33 is slightly lower than June’s 62.67, but the company points out that this is a typical fluctuation seen during the summer months.
The data, collected via a monthly survey of key buyers throughout 21 states, showed that buyers in the Northeast registered the most significant drop. The Northeast building products buyers’ KBI of 67.86, though higher than the national average, was down from 75.00 in June. More dramatically, kitchen and bath buyers dipped to 47.16 compared to 54.75 in June.
Sentiment in the Middle Atlantic region remained robust with a KBI of 83.33.
The index measures the sentiments of independent dealers and aims to quantify the outlook of building materials buyers. All scores above 50 point to a positive outlook, with 50 reflecting neutral sentiment.