Birth of an Index: Residential remodeling
The home improvement and home building industry remains a leading cause of statistics. And here’s the latest industry metric: the BuildFax Residential Remodeling Index (BFRRI).
Launched by the BuildFax, the Austin, Texas-based provider of building permit data, the BFRRI reports residential remodeling activity across the nation based on building permit activity filed with local building departments.
The BuildFax Residential Remodeling Index rose 11% year-over-year — and for the thirteenth straight month — in November to a four-year November high of 103.3, exceeding the November 2009 value of 93.0 by 10.3 points. Residential remodels in November were down month-over-month 2.5 points (2%) from the October value of 105.8.
On a regional basis, the South and the Northeast continue to lag behind the Midwest and West, with the Northeast still in a year-over-year decline, and while the South is up year-over-year, it suffered its fifth straight month of decline in November. The BuildFax Remodeling Index for the Northeast was down 1.7 points (2%) month-over-month and down 4.9 points (6%) year-over-year; the South was down 4.0 points (5%) month-over-month but up 6.5 points (8%) year-over-year; the Midwest was down 3.0 points (3%) month-over-month but up 3.9 points (4%) year-over-year; and the West was down 1.1 points (1%) month-over-month but up 4.6 points (5%) year-over-year.
Stihl opens new facility in India
Germany-based Stihl Group has opened a new facility in Chakan, Pune, India, according to the Business Standard.
According to the article, the new facility will include a warehouse, administrative block, a training center, engine testing and a service facility.
The company has been operating in India since 2005 under a wholly owned subsidiary Andreas Stihl, which is headquartered in Wagholi. According to the article, the company is set to appoint 500 dealers across the country in the next three years.
IKEA promotes environmental advice
The Swedish furniture and home furnishings retailer is preparing for Earth Day by describing sustainability as "the never ending job."
The company also is promoting what it calls a "Never ending list" of small improvements toward a more sustainable IKEA.
There are 77 small improvements on the list, including the use of flat packs to reduce transports, the reduction of raw material in particleboard, refraining from the use of optical brighteners in textiles, and funding scholarships for sustainable forestry initiatives in Eastern Europe and Russia.