Construction fastener demand shows resilience with residential strength offsetting commercial weakness.
Construction fastener demand showed resilience in November 2020, with residential construction strength offsetting weakness in commercial segments. The construction sector's mixed conditions reflected pandemic effects on different construction types and end-use applications.
Residential Strength
Residential construction showed particular strength as low interest rates, work-from-home arrangements, and suburban migration drove housing demand. Single-family home construction increased, supporting fastener demand for structural and finish applications. The residential segment partially offset weakness in other construction categories.
Home improvement activity also increased as homeowners invested in upgrades during extended time at home. This supported demand for fasteners sold through retail and contractor channels. DIY activity boosted retail fastener sales significantly.