News in end use

The total value of building permits in Canada increased 9.3% month-over-month to $11.8 billion (CAD) in February. Residential permits increased 7.4% to $7.1 billion.

The Mortgage Bankers Association Market Composite Index increased 0.1% on a seasonally adjusted basis from one week earlier, ending four consecutive weeks of declines.

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4% in March, seasonally adjusted, following a similar 0.4% increase in February.

Tthe median US asking rent rose 0.8% year-over-year to $1,987 in March, marking the third consecutive monthly increase, Redfin reported.

Canadian Prime Minster Justin Trudeau has announced a $6 billion (CAD) fund to build critical infrastructure, Ontario Construction News reported.

The Mortgage Bankers Association Mortgage Credit Availability Index increased 1.1% to a reading of 93.9 in March, the third consecutive monthly increase.

The National Federation of Independent Business Small Business Optimism Index declined 0.9 to a reading of 88.5, the lowest level since December 2012.

The Fannie Mae Home Purchase Sentiment Index dropped for the first time since November 2023, declining 0.9 points to a reading of 71.9.

Employment in construction increased by 39,000 in March, following an upwardly revised gain of 26,000 in February, the Census Bureau and NAHB reported.

Nonfarm payroll employment increased by 303,000 in March, above the average monthly gain of 231,000 over the prior 12 months.