Overall May shipments improved ever so slightly with domestic shipments taking all the gain. YTD shipments are nearly flat with only the May YOY comparision showing a deficit. Expect shipments to decline as new construction projects are delayed. As we enter the summer months and states begin to open up guidelines in place will encourage continued work-from-home conditions. Until post-Covid consumer and business behavior patterns emerge and firm, it will be difficult for developers to gain clarity on office and retail space demand which makes forecasting very challenging. Most projects that have not begun construction are on hold. Dodge Analytics reports that new construction starts during April 2020 were down 85 from the same time the year before. The forecast for May is for little-to-no improvement.
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