Economic Watch: Hurricanes Hit Housing, Industrial Production

Home building in the U.S. slowed in September, according to a new report, while a separate one showed that the total amount of output from the nation's factories, mines and utilities moved higher during the month. Results of both reports would have been better had it not been for two hurricanes.

U.S. housing starts fell 4.7% last month to a seasonally adjusted annual rate of 1.127 units, according to the Commerce Department. That's the slowest pace since September 2016 and it follows an upwardly revised August level of 1.183 million units.

In contrast, single-family home starts, the biggest share of the market, showed a 2.4% increase in September from August with a year-over-year gain of 9.3%.

The same report also showed that the number of building permits issued during September, an indicator of future construction levels, fell 4.5% from the month before.

Both the number of starts in September, as well as the number of new building permits issued, were below a consensus estimate from analysts.

Not surprisingly, the South, where the most home construction happens, saw the number of home starts fall 9.3% last month, its biggest drop since October 2015. Single family home starts fell even greater, 15.3%, hitting a more than one-year low.

“Housing has been generally slowing and looks to end 2017 no better than flat. Still, permits and completions for single-family homes are solid pluses,” said analysts at Econoday.

Despite the decline in homebuilding activity, sentiment among home builders surged in October, according to survey released Tuesday by the National Association of Home Builders, hitting its highest level since May.

“It is encouraging to see builder confidence return to the …levels we saw in the spring and summer,” said NAHB Chief Economist Robert Dietz. “With a tight inventory of existing homes and promising growth in household formation, we can expect the new home ...Read the rest of this story

Gabriel adds ride-control products for 62 more vehicle models

Gabriel Ride Control is adding 11 different product lines for 62 different vehicle models, the company announced this week.

This year, Gabriel is adding new models to its ReadyMount Fully Loaded Struts, Max ControlTM Shocks, ProGuardTM Shocks, Load Carrier Shocks, Top Mounts, and HiJackers Shocks. Also, Gabriel is adding new models to four of its UltraTM lines: Ultra Struts, Ultra Shocks, Ultra Cartridges, and Ultra Spring Seats.

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National Fleet offers new loading ramps

National Fleet Products, a North American supplier of loading ramps and other aftermarket accessories for commercial vehicles, is offering new versions of its WM System Loading Ramps.

Designed as a low-cost, maintenance-free alternative to hydraulic liftgates, WM System ramps are suitable for a wide array of vehicle applications, including everything from vans to box trucks to class-8 trailers and service and delivery vehicles of all types.

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Driver iQ service provides truck driving school records

Driver iQ announced it is offering access to Truck Driving School Records. According to the company, this offering will allow carriers to access driving school records as part of the pre-employment screening process.

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Is technology causing highway fatalities?

We've often written of the improving safety performance of trucks after participating in a live demonstration, or sitting through a presentation on connectivity.

So, it comes as a bit of a surprise that overall highway fatalities rose in 2016 to a decade-high of 37,461.

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Spot Market Van, Reefer Rates Ease as Flatbeds Hit Two-Year High

The availability of spot truckload freight fell 10% while the number of trucks posted gained 7% during the week ending Oct. 14, according to DAT Solutions and its network of load boards.

The combination of fewer loads and more available capacity helped send load-to-truck ratios lower compared to the previous week:

Spot flatbed load posts declined 7% and truck posts increased 6% as rebuilding efforts in Florida and the Gulf Coast continues to put pressure on the flatbed market.

The national average spot flatbed price climbed again while van and reefer rates dipped. All reported rates include fuel surcharges.

Spot van load posts declined 11% and truck posts increased 7%. Van rates moderated last week but the decline may be short-lived, with volumes surging in California and other Western states, according to DAT. The number one market for van freight was Los Angeles, where the average rate jumped 4 cents to $2.41 per mile. Outbound rates were softer elsewhere:

In the spot reefer market, load posts declined 13% and truck posts increased 7% from the previous week. Florida reefer volumes recovered last week but outbound rates were so low they actually contributed to a drop in the national average reefer rate.

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Six ways to prepare your fleet for winter

Frigid temperatures and harsh winter conditions are hard on any vehicle, especially fleet vehicles that are on the road for 10 to 12 hours a day. Performing routine maintenance will help fleet managers avoid emergency repairs and costly downtime during the coldest months of the year.

Before snow falls and temperatures drop, prepare your vehicles for the season with this maintenance checklist.

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