April 30, 2008
Steel Framing Price Increases May Extend Into 3rd QTR
While increasing steel framing costs were clearly expected through the first half of 2008 (see GypsumToday.com "Industry News" article below from January 9, 2008) it is now looking like steel framing prices may continue to increase into the 3rd quarter....
April 29, 2008
Steel Market Price Advisory
April 28, 2008
St. Louis Builders Find Wisdom in Going Green
"We are currently going through a paradigm shift in how we think about our species and our planet," says Jean Ponzi, program manager at the EarthWays Center for Resource Efficiency.
That shift has resulted in skyrocketing interest in "green" or...
April 27, 2008
Construction Spending Declines 1.1% in March
US construction spending was down again in March, but only after across-the-board revisions by the Commerce Department showed an interruption in the industry's long-running decline with a small February increase. Total US construction fell 1.1 pct...
April 26, 2008
Fed Cuts Interest Rate .25% - Signals Rate Pause Ahead
The Federal Reserve delivered its seventh interest rate cut since the credit crisis began last July but signaled the aggressive rate cutting campaign will likely pause for now. The Fed, as widely expected, cut its target for the federal funds rate,...
April 25, 2008
Architecture Billings Index Drops Nearly 5 Points
Following a stretch of 3 months with an increase in demand for design services, the Architecture Billings Index (ABI) dropped precipitously in January. As a leading economic indicator of construction activity, the ABI shows an approximate nine to twelve...
April 23, 2008
Housing Starts Fall Further in March
New-home construction continued to lag in March, according to the latest figures released by the U.S. Commerce Department. Total housing starts fell nearly 12 percent to a seasonally adjusted annual rate of 947,000 units for the month, while...
April 21, 2008
Architecture Billings Index Points to Major Downturn in Commercial Construction
Reflecting the deteriorating conditions in the housing market and overall economy, the Architecture Billings Index (ABI) tumbled almost nine points in February. As a leading economic indicator of construction activity, the ABI shows an approximate nine...
April 18, 2008
'RED-HOT' STEEL, FUEL PRICES SEND CONSTRUCTION COSTS SOARING, AGC SAYS
Washington, D.C. — "Red-hot steel prices, combined with record diesel fuel costs, are making construction unaffordable," Ken Simonson, Chief Economist for The Associated General Contractors of America (AGC), said today. Simonson was commenting on the...
April 17, 2008
March Housing Starts
March housing starts fell 11.9 percent, to a 17-year low of 0.947 million (SAAR). The decrease in total starts was driven by weakness in the volatile multi-family sector, which was down almost 25 percent. Single family starts were down 5.7 percent to...
April 16, 2008
Concerns About Unemployment, Confidence, Jobs Mount
The number of idled U.S. workers filing new claims for unemployment benefits surged last week, rising to its highest level in more than two years, a government report said Thursday.
Initial claims for jobless benefits increased by 38,000 to 407,000,...
April 15, 2008
Consumer Confidence Plunges 15% to 5 Year Low in March
The Conference Board Consumer Confidence Index, which had declined sharply in February, fell further in March. The Index now stands at 64.5, down from 76.4 in February. The Expectations Index declined to 47.9 from 58.0. The Present Situation Index...
April 14, 2008
Construction Spending Falls in February
Total construction spending decreased by 0.3% to a seasonally adjusted annual rate of $1.122 trillion, the Commerce Department said Tuesday. January spending dropped by 1.0%; originally, the government said spending that month fell 1.7%. The last time...
April 14, 2008
Foreclosure Rates Increase With Peak Expected in '09
Even as federal and state governments come under growing pressure to respond to the mortgage crisis, new data show that the pace at which mortgages are going delinquent is speeding up. A new report by Equifax, the credit bureau, and Moody's Economy.com...
April 11, 2008
Steel Prices, Unemployment and Wages Rise
Steel prices continue to soar. A Minnesota-based construction-products manufacturer reported on Thursday that on April 1, 14-gauge zinc-coated steel sheet went from $0.415 per pound to $0.515/ lb. and 14-gauge cold-rolled steel sheet from $0.375/lb. to...
April 10, 2008
Small Business Confidence Falls to 22 Year Low
Small-business owners' confidence in the economy is plummeting, prompting cutbacks in hiring and expansion plans, a new survey shows.
The National Federation of Independent Business said its index of small-business optimism fell 3.3 points in March...
April 9, 2008
Steel Buyers Face Record-High Prices
Steel prices in the U.S. continue to soar due to higher material costs, but prices outside the U.S. are spiraling even higher, slowing the flow of low-cost import steel to the domestic market.
In the most recent Purchasing poll, 82% of steel buyers...
April 8, 2008
Unemployment Rate Jumps Up to 5.1% in March
A third-straight sharp drop in U.S. payrolls confirmed Federal Reserve Chairman Ben Bernanke's recent warning that the U.S. economy may be in recession, as the unemployment rate moved sharply higher.
The data suggest additional interest rate cuts by...
April 7, 2008
Top 10 Green Things About Steel
St Patrick’s Day is known as the green holiday, when parades fill the streets, people fill the pubs, rivers are dyed green and shamrocks abound. Perhaps because of its proximity to the beginning of spring or images of the green hills of Ireland where...
April 4, 2008
How Steel Framing & Insurance Can Lead to Savings
During the past five years, it has been tough to hold the line on construction costs, and unfortunately relief appears to be nowhere in sight for 2008. According to the Associated General Contractors of America, Arlington, Va., cost inflation for...
April 4, 2008
STEEL DOING IT RIGHT Scheduled for April 30-May 2
If you want to be ahead of the game when it comes to cold-formed steel, a few slots are still open to register for Steel-Doing It Right taking place in Charlotte, N.C., later this month. Developed by the Association of the Wall and Ceiling Industry...
April 3, 2008
Builders Report Increase in Traffic & Sales in Recent Weeks
The home building industry as a whole may be months away from recovery from its most serious downturn in recent history, but in recent weeks, many builders are experiencing an emotion they haven't felt in quite some time-optimism. In reports from...
April 2, 2008
Dietrich Announces Price Increase
April 1, 2008
Defending Our Turf: Steel's Role in Green Building
Is it real? Or is it Memorex? Those of us old enough to remember that ad slogan may have found an eerie similarity in an important debate that has raged over the past decade: Is it global warming? Or is it natural cyclic climate change?
While I have...