Articles
Housing decline leads to slow flooring growth
Catalina Research has released its latest Floor Coverings Industry Quarterly Update. According to the report, U.S. floor coverings manufacturer sales (shipments minus exports plus imports) growth slowed substantially in the third quarter of 2022 as rising interest rates caused the housing market to decline. Read More
Year-to-Date Ceramic Imports Down 0.8% in Square Meters
Compared to the previous year for the period from January to August, total ceramic imports in square meters were down by 0.8%, according to Grosser Consulting. Read More
Q2 U.S. Retail Vacancy Rate Hit Lowest Level in 15 Years
"Bricks-and-mortar store owners are emerging from the pandemic with surprising strength, posting some of their best numbers in years and plotting expansions as more Americans venture out to buy things again,” reports the Wall Street Journal. Read More
BEA News: Gross Domestic Product (Third Estimate), GDP by Industry, and Corporate Profits (Revised), 2nd Quarter 2022 and Annual Update
Real gross domestic product (GDP) decreased at an annual rate of 0.6 percent in the second quarter of 2022, following a decrease of 1.6 percent in the first quarter. Read More
New home sales up in August amid rising rates
A brief decline in mortgage rates helped to boost new home sales in August but sales are expected to move on a downward trend in the months ahead as rates have since moved higher and builder sentiment continues to fall due to declining housing affordability and ongoing supply chain bottlenecks. Read More
August Construction Starts Declined 9% to $1.25 Trillion
Total construction starts fell 9% in August to a seasonally adjusted annual rate of $1.25 trillion, according to Dodge Construction Network. The decline, however, comes on the heels of a massive increase in July that saw the start of three large manufacturing plants and two LNG export facilities. In August, nonresidential building starts rose 7%, residential starts were 1% higher, while nonbuilding starts lost 36%. Read More