Volume 10, Issue 6 - July/August 2009

Industry Indices 

 

Economist Gives Hope for the Future

“For the time being the worst is behind us,” said William Greiner, executive vice president, chief investment officer and manager of UMB’s Trust Investment Division, in opening his opening comments to members of the American Architectural Manufacturers Association. Greiner spoke in June during the group’s conference in Minneapolis.

“If you have another meeting at this time next year, you’ll be in a much better mood,” he added.

Specific to the housing market, Greiner said that although housing prices and interest rates are low, sales haven’t gained traction yet. Greiner said this is beginning to happen, though.

“Inventory is nowhere near where it was,” he said. “New home inventory levels are starting to correct as well. A year from now you will see significant improvement.”

“Next year when unemployment stabilizes people will start to look at buying homes,” he added.

Further good news for the future is that Greiner said data shows we will see an end to the recession in the next six months.

But Greiner wasn’t as positive about our national debt.

“We haven’t been in this position since Word War II,” he said. “We’re approaching our problem with debt by getting into more debt and I’m very uncomfortable with this.”

Greiner says there is another way out of this and this is through non-inflationary economic growth. To that end, he said there are a few things to look out for in the next three to four years.

“We can’t shrink our workforce. We’ve got to keep people working,” he said.

He also said employees need to work smarter and more efficiently.

 
New Privately Owned Housing Units Started in 2009
(in thousands of units)
U.S. Total
Northeast
Midwest
Southwest
West
January
488
38
58
254
138
February
574
62
93
306
113
March
525
72
98
275
80
April
458
50
77
217
114

Source: U.S. Commerce Department


 
VALUE OF IMPORTS TO UNITED STATES
Feb. ’09 March. ’09 Difference
Finished Products (in units)
 
Plastic windows and their frames 109,246,179,855 120,979,889,021 +10.74
Doors and their frames, wood 34,595,890 30,539,226 +13.3
Aluminum windows and their frames 16,210,536 15,880,129 +2.1
Iron windows or steel
and their frames, not stainless
2,871,950 2,825,564 +1.6
Wood windows, French
windows and frames
9,982,230 9,582,958 +4.2
Materials (in units)  
Cast and rolled glass 5,238,602 3,845,232 +36.2
Float glass 6,213,501 7,642,794 -18.7
Laminated safety glass 5,967,071 4,323,447 +38.0
Insulating glass units 10,454,985 8,437,589 +23.9
Wood and articles of wood 768,778,342 694,257,165 +10.7

Source: U.S. Commerce Department


 
VALUE OF EXPORTS TO UNITED STATES
Feb. ’09 March. ’09 Difference
Finished Products (in units)
Plastic windows, frames and
thresholds for doors
4,482,560 6,067,973 +35.4
Wood windows, French
windows and their frames
4,046,667 4,257,702 +5.2
Doors and their frames, wood 9,258,257 9,841,526 +6.3
Materials (in units)
Cast and rolled glass 5,853,231 2,226,113 -62.0
Float glass 33,307,854 39,852,151 +19.7
Laminated safety glass 4,112,587 4,226,181 +2.8
Insulating glass units 6,446,810 7,100,821 +10.1
Articles of glass 6,268,157 5,200,216 -17.0
Articles of wood 419,179,503 454,841,025 +8.5
Continuously shaped wood 17,557,682 18,292,585 +4.2

Source: U.S. Commerce Department



"A year from now you
will see significant improvement."
—William Greiner

 




DWM

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