Architectural Coatings shipments for the quarter declined in volume slightly by 0.1%, but the value increased by 4.2%. For the year-to-date, shipment volume is still up 3.9% and shipment value is up 7.2%. The stronger results for the first two quarters are still maintaining the segment in a positive range through three quarters, although the growth is slowing down. This corresponds with the decline in housing starts and housing resales. Housing starts and housing resales remain a good leading indicator of the Architectural segment.
The Product OEM Coatings segment showed strong results for both the quarter and year-to-date. For the third quarter, shipment volume increased 9.9% while value increased only 0.5%. For the nine months, the segment had shipment volume increases of 9.5% and shipment value increases of 4.8%. Product OEM Coatings continue to remain strong. Manufacturing activity in the United States remains relatively strong as auto sales increased after the price of gasoline declined from the earlier part of the year.