World Fence News

50 • JULY 2018 • WORLD FENCE NEWS Dickson also announced that Va- nessa Wright has been promoted to BD Loops office manager. She has worked with BD Loops for over five years and has a bachelor's degree in business marketing. "We plan to uti- lize the skills she learned to improve existing documents and our web site," said Dickson. "She will also work in our marketing depart- ment developing and designing pictures and web/advertising content for our dis- tributors, along with assisting customers in our everyday op- erations." For more information on the com- pany and its products, call 714-890- 1604 or visit the web site at www.bd- loops.com. NEW YORK – The value of new construction starts in April fell 13% from the previous month to a season- ally adjusted annual rate of $674.3 bil- lion, according to Dodge Data & An- alytics. The decline follows the 11% gain reported for March, which was the highest level of construction starts over the preceding six months. The loss of momentum in April was widespread, involving each of the three main construction sectors. Nonbuilding construction (public works and electric utilities/gas plants) plunged 22% after its 74% hike in March that featured the start of the $3.5 billion Mountain Valley Pipeline expansion in West Virginia and Vir- ginia, as well as several large highway projects. Nonresidential building retreated 12% due to a slower pace by its insti- tutional and manufacturing segments. Residential building dropped 9% The Dodge Report New construction starts in April pull back 13 percent as decreased activity reported for public works, institutional building, and housing with reduced activity for both single family and multifamily housing. During the first four months of 2018, total construction starts on an unadjusted basis were $223.5 bil- lion, down 7% from the same period of 2017 (which included very strong amounts for airport terminals and nat- ural gas pipelines). On a 12-month moving total basis, total construction starts for the twelve months ending April 2018 matched the dollar amount that was reported for the 12 months ending April 2017. April's data lowered the Dodge Index to 143 (2000 =100), down from a revised 165 for March. Taking the average for March and April produc- es an Index reading of 154, slightly above the 152 average for January and February, although still below the 161 average for the full year 2017. "The construction start statistics can be volatile on a monthly basis, and given the wide swings present in March and April it's probably best to take the average of the two months in assessing the cur- rent health of the construction indus- try," stated Robert A. Murray, chief economist for Dodge Data & Analyt- ics. "The average for March and April shows that construction starts so far in 2018 are proceeding slightly be- hind last year's average pace. Even with this modest slowdown in early 2018, there are several factors in the current environment that should help construction activity to stay close to recent levels. "Job growth continues to be strong, with the unemployment rate at the lowest level since 2000, which should limit any upward movement by commercial vacancy rates this year," Murray said. "In its latest quarterly survey of bank lending standards, the Federal Reserve indicated that lending standards for nonresidential building projects eased slightly on net during the first quarter of 2018, following the tightening that took place from late 2015 through 2017. "In March, Congress reached agreement on fiscal 2018 appropria- tions, providing additional funding for several public works programs. And, while interest rates are rising, the up- ward movement so far has been mea- sured, with the 10-year Treasury bill stabilizing at about 3% from March through mid-May," he said. Nonbuilding construction in April was $159 billion (annual rate), down 22% from the robust amount in March. The public works categories as a group dropped 25% after soaring 63% in March. The miscellaneous pub- lic works catego- ry, which includes pipelines and mass transit projects, plummeted 45% in April after be- ing lifted in March by the $3.5 billion Mountain Valley Pipeline expansion in West Virginia and Virginia. There were two large rail-related projects that were entered as April starts: the $1.2 billion rail portion of a $1.5 billion expansion project for the Long Island Rail Road in Nassau County, N.Y. and the $500 million Union Pacific Brazos railroad yard in Hearne, Tex., but combined they were only about half the dollar amount of the Mountain Valley Pipeline project. Highway and bridge construction in April made a partial 12% retreat af- ter surging 29% in March due to such projects as the $1.1 billion I-405 high- way project in Orange County, Calif. and the $855 million Grand Parkway highway project in Houston. April did include several notewor- thy highway and bridge projects en- tered as construction starts – the $511 million Twin Ship Channel Bridge re- placement in Pasadena, Tex., the $410 million I-64 widening and bridge continued on page 64 "The average for March and April shows that construction starts so far in 2018 are proceeding slightly behind last year's average pace. Even with this modest slowdown in early 2018, there are several factors in the current environment that should help construction activity to stay close to recent levels. – Robert A. Murray John Brown joins BD Loops as general manager; Vanessa Wright promoted to office manager STANTON, Calif. – BD Loops, a manufacturer of preformed direct burial and saw-cut loops, announced that John Brown has joined the com- pany as general manager. Although new to the industry, Brown has considerable business experience in both manufacturing and the service industries, said BD Loops owner Ted Dickson. "He hit the ground running by manning our trade show booth at the recent car wash show in Las Vegas, and then represented us at the Encon open house in northern California," said Dickson. "John looks forward to working closely with the BD Loops team to ensure the transition will go smoothly, and that we can continue to serve our customers." John Brown Vanessa Wright

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