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October’s Safety Report is Now Available to Members

Hexion, Columbus, OH, recently completed the purchase of Smartech, a technology company specializing in “AI-driven autonomous manufacturing solutions.” This acquisition will enable Hexion to assist customers in optimizing production processes and minimizing waste, among other smart manufacturing processes. Hexion is a supplier of resins, adhesives, wax emulsions, and auxiliary products for various industries. See Hexion

U.S. sales of new single-family homes in October were at a seasonally adjusted annual rate of 610,000, decreasing 17.3% from September and 9.4% lower than the comparable month in 2023. The seasonally adjusted estimate of new homes for sale through October was 481,000, indicating a 9.5-month supply at the existing sales rate. See U.S. Census

Seasonally adjusted shipments for all U.S. manufacturing industries in October were $585.4 billion, down 0.2% from September but up 1.6% year-to-date from the comparable period in 2023. Wood product shipments increased 0.7% from last month to $13.1 billion but declined 0.7% for the year compared to 2023. Shipments of furniture and related products decreased 0.6%

U.S. kitchen and bath cabinet sales in October were $228.7 million, 3.4% lower than the comparable month last year but up 0.6% from September, according to the Kitchen Cabinet Manufacturers Association’s (KCMA) monthly “Trend of Business” member survey. Year-to-date sales were $2.3 billion, declining 2.8% from the first ten months of 2023. Semi-custom sales fell

The American Institute of Architects (AIA) Economics & Market Research Group’s Architecture Billings Index (ABI) rose 4.6 points to 50.3 in October, while design contracts decreased three points to 45.3, marking the seventh straight month of declines. October billings were below 50 in all areas except the institutional sector. Firms in the south reported progress

U.S. construction spending in October was estimated at a seasonally adjusted annual rate of $2.17 trillion, growing 0.4% from September and 5.0% higher than the same month in 2023. Private spending in October rose 0.7% to $1.68 trillion compared to September. Residential expenditures improved 1.5% to $934.0 billion, and non-residential expenditures slipped 0.3% from September

U.S. consumer confidence registered at 111.7 in November, increasing 2.1 points from the adjusted October reading, according to The Conference Board Consumer Confidence Index. The index measuring current business and labor market conditions rose 4.8 points to 140.9 in November. The short-term outlook index for the income, business, and labor markets grew 0.4 points from October to

The RV Industry Association’s monthly survey of U.S. manufacturers reported 30,595 units in October, up 24.4% from September and 7.8% compared to the same month in 2023. Year-to-date shipments were 7.7% higher than the first ten months of last year at 287,007. See RV Industry Association

The seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) for November was 49.7, up 1.2 points from October but remaining just below the 50 no-change point for the fifth month. Manufacturers reported improvements in new orders and employment while output remained slow. The PMI index comprises five sub-indices tracking changes in new orders,