Triggered by lower input prices in alloy steel, construction costs fell again in June, according to IHS and the Procurement Executives Group (PEG). The headline current IHS PEG Engineering and Construction Cost Index (ECCI) registered 47.4 in June, down from May’s reading and below the neutral mark. The headline index has not indicated rising costs since December 2014.
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• Housing starts rose to a seasonally adjusted level of 244,900 units in April, up a whopping 14% from March.
• Although rural starts were down for the month, urban starts more than made up for the difference, increasing by 35,000 units.
• Urban multifamily units were the key driver of the advance, up 27% from their already high levels in March.
• Ontario and Quebec experienced the biggest levels of growth in starts, rising by 12% and 43%, respectively.
There was a massive 50,700 gain in public sector workers, but this was offset by a drop in 22,300 within the broad private sector.
Canadian Mortgage and Housing Corporation (CMHC) estimates that housing starts fell 3.1% to a seasonally adjusted annualized rate of 179,000 from a revised down 184,700 units in March. Starts were originally reported at 188,800 in March. Total urban starts decreased by 1.9% to 160,100 units. Urban multiple starts fell 5.1% to 96,000 units in April. Urban single-family starts bumped up by 3.4% to 64,100 units. Much of the monthly drop in total starts can be attributed to a decline in residential construction activity in Newfoundland, Ontario and Quebec.
IHS, a leading global source of critical information and insight, announced the release of IHS ASME BPVC Advantage, an advanced version of the Boiler and Pressure Vessel Code. The Advantage version of the ASME (American Society of Mechanical Engineers) Code is available online allowing users to work more efficiently with sophisticated and easy-to-use research, reference and collaborative tools. ASME is a not-for-profit professional organization for the mechanical and multidisciplinary engineering and allied sciences communities. “The Advantage version of the ASME Boiler and Pressure Vessel Code gives engineers the electronic capability to use and share the technical information they’ve been asking for,” said Michael Merker, managing director, C&S Operations of ASME. “The collaboration tools alone will create significant efficiencies across any organization.” Rapid access menus, innovative tracking and annotating features allow users to find, manage and share critical technical information from their desks or mobile devices. “We knew this was going to have a great impact on workflow improvement for our customers,” said Tom Littman, senior vice president, IHS Technical Publishing. “The product was developed with their input, as we took the traditional version of the BPVC from a read-only reference material to a dynamic, interactive tool.”