Retail sales show strength in November
Adjusted November retail sales for "Building material & garden equipment and supplies dealers" (NAICS code 444) increased 1.8% compared with last month and increased 5.3% compared with November 2012, according to the Advance Monthly Retail Trade Survey from the Census Bureau, released Thursday.
The 444 classification retailers hit an estimated $26.4 billion in November, compared to $25.9 billion in October. In November of 2012, the report estimated $25.1 billion for the building material group. Figures are adjusted for seasonal variation and holiday and trading-day differences, but not for price changes.
Overall November sales for U.S. retail and food services sales were $432.3 billion, up 0.7% from the previous month, and up 4.7% from the same month a year ago. The figures beat most economists’ forecasts.
Sales at nonstore retailers were up 9.4% from the same month last year.
Swanson introduces Savage tape rule
Swanson Tool unveiled a new tape measure under its premium Savage brand.
The product features a patent pending rotating tip designed to hold rounded edges up to 2-inches in diameter, such as metal conduit, rebar, threaded rod, PVC and black iron pipe.
With the ability to catch, hold and measure multiple types of materials, the new GripLine tape is ideal for plumbing, electrical, builder and carpenters, framing pros and DIY enthusiasts.
A slotted groove in the innovative, pivoting head allows the oversized 1-3/8-inch tip to slide seamlessly toward an object, thereby extending the tape’s gripping range and strength. With a 360-degree hooking capability, this new tip design gives contractors’ maximum control when drawing the tape against an object, making the tape feel more like an extension of their arm than a hand tool.
“This multi-function, magnetic and pivoting tip is what makes the GripLine tapes a truly innovative solution for builders, contractors, plumbers, electricians, carpenters and DIYers,” says Loren Doppelt, director of product development and marketing for Swanson Tool Co.