The latest edition of the Quikrete Industry Dashboard shows some big increases in monthly retail sales. Plus a surge in gas prices over the $3 per gallon barrier.
The Commerce Department reported sales for NAICS 444 increased in April to an estimated $47.8 billion. On an unadjusted basis, that’s way up from $35.9 billion in the same month last year, a 33% increase.
Sales at hardware stores (NAICS 44413) are not reported for April. But the March numbers for this subset are $2.91 billion, up 23% from the same month one year ago.
Meanwhile, the national average of the price of a gallon of gas rose almost 10 cents in a single week, according to the AAA. The current average of $3.04 is up from $2.86 a month ago.
A ransomwear attack of a major pipeline, the Colonial Pipeline, has led to price surges in the Southern U.S. Meanwhile, demand is increasing everywhere as travelers look to break out of their pandemic slump.
Next up: Residential construction numbers are slated to be released on the morning of May 18.