In September, vehicle sales reached a new post-recession high of almost 18.2 million units at a seasonally adjusted annual rate. This followed the August rate of 17.8 million units. Both at the time were the best pace since July 2005, when incentives caused sales to surge. Sales in September were 10 percent higher than the […]
Total housing starts in September were at an annual rate of 1,206,000 which was only the second time to break 1,200,000 since the recession. The first was in June. In September the three month moving average (3MMA) was 1,163,000 which was also the second best month since the recession. The best month was last month, […]
For weeks SMU procrastinated about taking the time to attend this year’s METALCON exhibition in Tampa, Florida. We ended up flying to Tampa yesterday morning (Wednesday) for the opening of the show and then returning to our offices last night. With all of the uncertainty which has enveloped the flat rolled steel industry over the […]
Below is the latest release issued by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through August 2015. You may read the press release on their website here. Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for August 2015 decreased 0.3 percent […]
Each month the Commerce Department issues its Construction Put in Place (CPIP) data, usually on the first working day covering activity two months earlier. August data was released on Thursday October 1st. Construction Put in Place is based on spending work as it occurs, estimated for a given month from a sample of projects. In […]
The UAW and FCA have reached a new tentative agreement, avoiding a strike deadline by minutes. The UAW notified members at 11:41 pm Wednesday evening, saying “significant gains” were secured in the new agreement. “We heard from our members, and went back to FCA to strengthen their contract,” said UAW President Dennis Williams. “We’ve reached […]
The UAW issued a strike notice today to Fiat Chrysler. The notice from UAW Chrysler VP and Director Norwood Jewell gave a deadline of 11:59 p.m. Wednesday, Oct. 7, for cancellation of the current hour-by-hour contract extension. “FCA US confirms that it has received strike notification from the UAW,” said Fiat Chrysler in a statement […]
UAW negotiations with the Big Three automakers are on hold while the bargaining committee figures out its next move. The union announced on Thursday that the tentative agreement between the UAW and Fiat Chrysler was voted down by a 65 percent majority of the 40,000 workers at FCA. Although no directives have been issued, local […]
UAW workers will soon be voting on a new labor contract at John Deere factories. After a month of negotiations, a tentative agreement was announced on Oct. 1 following the expiration of the previous agreement at midnight on Sept. 30. The new agreement will cover John Deere workers at 12 factories in Iowa, Illinois and […]
UAW members rejected the tentative agreement with Fiat Chrysler in what is being called a vote of emotion over logic. UAW President Dennis Williams tried to put a positive spin on the rejection of the agreement, saying in a statement, “What I love about our organization most of all is that no matter what we […]
U.S. automotive sale results were released today under the shadow of a failed UAW tentative agreement with Fiat Chrysler. However, auto manufacturers kept their successful sales run going again in September. The Detroit Big Three all enjoyed double digit increases in sales last month. Ford gained 23 percent, General Motors 12 percent, and FCA 14 […]
Higher prices and tight inventory on existing homes are slowing home sales according to two reports released this week. Pending home sales for August, released by The National Association of Realtors, reports pending home sales retreated in August. The Pending Home Sales Index, based on contract signings, dropped 1.4 percent to 109.4 in August, compared […]
UAW voting is taking place on the tentative agreement between Fiat Chrysler and the union but early signs show workers are dissatisfied with the terms of the contract. The agreement must be ratified by a majority vote by 40,000 UAW members at 37 FCA sites. As of Friday, the majority of votes cast at UAW […]
WASHINGTON, D.C., September 24, 2015 – The Steel Market Development Institute (SMDI), a business unit of the American Iron and Steel Institute (AISI), has launched a new website that focuses on using steel for building construction. The new site, located at www.buildusingsteel.org, provides information for engineers, architects, owners, building contractors, code officials and other construction […]
Below is the latest release issued by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through July 2015. You may read the press release on their website here. Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for July 2015 increased 3.5 percent, […]
“Steel will win out,” said Larry Kavanagh, president of the Steel Market Development Institute (SMDI) when asked about the use of aluminum in the automotive industry. SMU talked with Kavanagh about Ford’s announcement that it will increase the use of aluminum in the F-150, and potentially other vehicles, using Alcoa’s Micromill technology. The new Micromill […]
The UAW has released the details of the proposed 4-year agreement with Fiat Chrysler. Employee reaction to the tentative agreement was mixed at local unions. There were tough questions and criticisms to respond to at the informational meetings held by the leaders of the bargaining committee. UAW Vice President Norwood Jewell, who was instrumental in […]
In August, vehicle sales reached a new recovery high of 17.8 million units on a seasonally adjusted annualized basis. This was the highest pace since July 2005, when incentives caused sales to surge. The August sales figure was particularly driven by light trucks which increased from 9.7 to 10.1 million units annualized. Autos fell from […]
Details about the UAW tentative agreement with Fiat Chrysler are beginning to come out thanks to a report published Wednesday by the Detroit Free Press. According to their information and comments during the UAW/FCA press conference, the Tier gap will be narrowed and eventually go away. Tier 2 entry workers will start at $17 per […]
Total housing starts in August were at an annual rate of 1,126,000 which was the third best since October 2007. In August, the three month moving average (3MMA) was 1,166,000 which was the best result since December 2007. Total starts are still on track to reach 1.6 million units annualized by the end of 2018 […]
UAW President Dennis Williams and FCA US LLC CEO Sergio Marchionne held a news conference Tuesday evening at the UAW-Chrysler NTC Building in Detroit to announce that they have reached a tentative agreement. No details of the agreement were given but Williams and Marchionne alluded to doing away with the two-tier system over time and […]
Construction firms are finding it increasingly difficult to find qualified craft workers, according to a new report by the Associated General Contractors of America. More than 2 million construction workers were laid off in the 2008 recession with many of those never returning to the industry. In a survey of 1,358 construction firms, 86 percent […]
Planning for nonresidential construction increased in August according to the Dodge Momentum Index by Dodge Data & Analytics. The Index rose 2.8 percent from July to register 128.3. The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending […]
Each month the Commerce Department issues its Construction Put in Place (CPIP) data, usually on the first working day covering activity two months earlier. July data was released on Tuesday September 1st. Construction Put in Place is based on spending work as it occurs, estimated for a given month from a sample of projects. In […]
United Auto Workers negotiations are nearing the contract expiration date of Sept. 14. The biggest issue this year is closing the gap in the two-tier wage structure at Detroit’s Big Three automakers. The two-tier system was established in 2007 to help auto manufacturers remain competitive with foreign counterparts. Tier 1, or legacy workers earn about […]
Following the exceptional rate of vehicle sales in the US in May the June rate fell from 17.8 million annualized to 17.2 million then bounced back to 17.5 million in July. This was the second best month of the year. Light trucks continued to pull ahead of automobiles. In July LT sales which includes crossovers […]
Existing home sales increased for the third consecutive month in July. The seasonally adjusted annual rate for July was at 5.59 million, up 2 percent from a downwardly revised 5.48 million in June. Sales were at their highest pace since February 2007, said the National Association of Realtors, but first time buyer sales dropped to […]
Sales of new single-family houses in June 2015 were at a seasonally adjusted annual rate of 482,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 6.8 percent below the revised May rate of 517,000, but is 18.1 percent above the June 2014 estimate […]
Below is the latest release issued by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through June 2015. You may read the press release on their website here. Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for June 2015 increased 17.9 percent, […]
Building planning increased in July according to the Dodge Momentum Index published by Dodge Data & Analytics. The Index, which is a monthly measure of the initial report for nonresidential building projects in planning, rose 5.4 percent to a reading of 125.3 from 118.9 in June. After see-sawing in the first half of the year, […]