This story gathers excerpts from the latest online reports regarding the SPIB's proposed changes to Southern Pine Lumber design values.
This ALSC press release announces the Board of Review's deferred decision on approving a recommendation by the Southern Pine Inspection Bureau (SPIB) that would modify design values for visually graded dimension lumber.
Producer prices posted their highest monthly increase since April 2011 in September, rising 0.8 percent on the month, after remaining muted for the previous four months.
Housing starts rose to a 658K-unit pace in September on the heels of an upwardly revised 572K-unit pace in the month of August. The gain was driven primarily by a 51.3 percent increase in multifamily starts.
The leading economic index rose 0.2 percent in September and has risen 5 percent over the past three months. This pattern suggests continued growth for the next six months, yet the pace of growth remains modest.
The Philadelphia Fed survey jumped back into positive territory in October with business activity, shipments and new orders all posting strong increases. The employment index suggests hiring activity remains weak.
Sales of existing homes fell 3.0 percent in September to a 4.9 million-unit pace from an upwardly revised 5.06 million-unit pace in August. Contract cancelations remained exceptionally high at 18 percent.
On balance, the outlook remains for moderate economic growth with the accompanying three problems of housing, employment and government restructuring.