Bay Fastening Systems, a Blind Rivet Distributor, Discusses the Rise of U.S. Home Construction in May

July 22, 2013

Bay Fastening Systems comments on reports that U.S. home construction rose in May, 2013.

Bohemia, NY (PRWEB) July 22, 2013

On July 22, Bay Fastening Systems, a full service distributor of engineered fastening systems, comments on a New York Times article that discusses how there was a rise in U.S. home construction in May.

A June 18th article titled “US Home Construction Rose in May” from the [New York Times discusses the rise of U.S. home construction in May. The article states that “builders stepped up home construction in May and applied for permits to build single-family homes at the fastest pace in five years. The gains show housing remained a crucial source of growth for the economy.”

The article quotes the Commerce Department, which stated that “the overall pace of homes started rose 6.8 percent in May to a seasonally adjusted annual rate of 914,000. That offset part of the 14.8 percent decline in April.” The reason behind these numbers is due to the new construction of single-family homes and apartments. Builders also acquired more permits for single-family homes, which according to the article is about two-thirds of the market.

In the article, Jim F. O’Sullivan, chief U.S. economist for High Frequency Economics, is quoted as saying, “While levels are still low, housing has been the strongest part of the economy in growth terms.”

Cliff Bernard, President and CEO of Bay Fastening Systems at blind rivet distributor Bay Fastening Systems, adds that “May’s home construction numbers look positive. Housing and construction is an essential part of the growth of the US economy, so this is great news for us.”

Bay Fastening Systems is a full service distributor of engineered fastening systems that include the blind rivet, pop rivet, drive rivet, solid & semi-tubular rivet, military spec rivet, lock bolt, inserts and specialized installation systems. Founded in 1962, Bay Fastening Systems has become a leader in the fasteners industry through its continuing commitment to quality service, deep product knowledge and consultation, and an easy ordering process.


For the original version on PRWeb visit: http://www.prweb.com/releases/2013/7/prweb10919579.htm

Source: prweb

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