Local Industry News
A Contentious Code Stands After Attempted KO Punch
Impending building code legislation in Pennsylvania has spurred not only argument, but legal action in effort to halt its implementation. In any other year news about state-mandated building codes might merely be a blip on the radar, but with a struggling economy and housing market the conflict’s broader theme of government’s seemingly simultaneous help and hindrance to business plays out as a national debate on a smaller scale. Effective January 1, 2011, Pennsylvania will require sprinkler systems in all newly-built single family homes
Stocks and homes turn in similar lackluster price performances over past year
According to North America’s four major stock market indices, equity prices have been moving sideways for almost a year. There was a spurt in April 2010, when 52-week highs were recorded, but there have been mainly double-digit percentage declines since then, taking index levels back to where they were in October-November 2009.
Economic Expansion Stalls in July
Although most states had marginal gains in their economic activity index in July activity was weaker or steady in enough states to keep the national economic activity index unchanged.
Ranking States by Recent Economic Performance – July 2010
This chart shows the ranking of states by recent economic performance, including data on the last three months (annualized – July) and changes in economic activity for the latest three months (annualized) versus the previous year.
Lumber, Metals, and Gypsum Lead July Construction Materials Price Decline
The economic slowdown caused the second consecutive decline in the construction materials price index with a 1.1% fall in July. The largest declines were for steel, copper, lumber and gypsum products.
