Economic Indicators Industry Forecasts Industry Statistics

BEA News: Personal Income and Outlays, April 2022

Personal income increased $89.3 billion, or 0.4 percent at a monthly rate, while consumer spending increased $152.3 billion, or 0.9 percent, in April. Read More

Economic Indicators Industry Forecasts Industry Statistics

Consumer Sentiment Slid 10.4% to 58.4 in May

Consumer sentiment fell 10.4% in May to 58.4, according to final results from the University of Michigan Survey of Consumers. Read More

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Consumer Spending Trends

Consumer spending on home grew 20 percent in 2021 over 2020, which followed an 8 percent advance in 2020 over 2019. While 2020 growth didn’t come close to the unprecedented increase in 2021, it was still double the average 4 percent year-over-year advance tracked from 2010 after the recovery from the last recession. Read More

Published Articles

Understanding Millennial & Gen Z Consumers

Millennial and Gen Z shoppers and the way they think is pivotal to growing business. According to Rochelle Routman, chief sustainability and impact officer for HMTX Industries, these shoppers are increasingly concerned with three main facets of a company and its products: sustainability, social change and “how brands treat their employees, even beyond their supply chain,” said Routman. Read More

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Q1 Kitchen & Bath Remodel Market Strong, Says NKBA

The National Kitchen & Bath Association (NKBA) released its Kitchen & Bath Market Index (KBMI) for Q1 of 2022. The quarterly report, which is aimed at measuring the health of the kitchen and bath industry, found that the industry enjoyed a successful opening quarter of the year, growing 12.6% in Q1, with industry professionals expecting further growth as the year continues. Read More

Economic Indicators Industry Forecasts Industry Statistics

BEA News: Gross Domestic Product (Second Estimate) and Corporate Profits (Preliminary), First Quarter 2022

Real gross domestic product (GDP) decreased at an annual rate of 1.5 percent in the first quarter of 2022, following an increase of 6.9 percent in the fourth quarter of 2021. Read More

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Demographic trends & the US flooring industry

One of the largest problems is the rapidly aging demographics facing developed economies. For an economy to grow, there must be a balance of consumers and producers. This balance necessitates a growing population that skews to the younger end of the spectrum. An aging populace creates a lack of producers and tends to grind down growth as workers retire and begin pulling money and other resources from the economy. Read More

Economic Indicators Industry Forecasts Published Articles

How the Pandemic Changed Everything

Before March 2020, the COVID-19 virus seemed like something sort of far away. While world health experts had been nervously tracking and documenting its spread and there were some isolated cases in the United States, people didn’t think it would be very serious. One of the biggest shifts is how consumers shopped, with a dramatic shift to online. Digital Commerce 360 estimates that the pandemic contributed an extra $219 billion to ecommerce’s bottom line over the past two years, with consumers spending $871 billion online in 2021. From March 2020 to February 2022, U.S. consumers spent $1.7 trillion online. Read More

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Economic Headwinds Loom Large

The last five years saw some of the most cataclysmic changes in society and the economy since the Great Recession. And the last two years were even more tumultuous. Between the global pandemic, an ominous war abroad and major swings in consumer mood and sentiment, it’s hard to pick what the most significant event is. Indeed, there’s a meme going around that says, “When they said history repeats itself, I wasn’t expecting all of the 20th Century in the last two years.” Read More

Economic Indicators Industry Forecasts Industry Statistics

Are we Headed for Another Housing Bubble?

There are growing concerns of an impending housing bubble. While the housing market is obviously seriously overheated, there are several reasons to think that it won’t end up as another bubble bursting. Lenders are much more cautious now than they were during the housing boom leading up to the Great Recession. Read More