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Employment Rose by 531K in October, Unemployment Edged Down

Total nonfarm payroll employment rose by 531,000 in October, and the unemployment rate edged down by 0.2 percentage point to 4.6%, the U.S. Bureau of Labor Statistics reported.  Read More

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BEA News: Personal Income and Outlays, September 2021

Personal income decreased $216.2 billion, or 1.0 percent at a monthly rate, while consumer spending increased $93.4 billion, or 0.6 percent, in September. The decrease in personal income primarily reflected the winding down of pandemic-related assistance programs. Read More

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The downside of globalism

While volatile materials prices are unfortunately a fact of life, they typically are caused by strong demand. At present, that is not the case. We have a very healthy home building and remodeling market, although nothing compared to the housing boom prior to the Great Recession. Nonresidential building activity however is currently below levels it was at a year ago in the middle of the pandemic. Instead, we have a serious supply problem primarily caused by pandemic-induced disruptions to the supply chain. By and large, U.S industries are more vulnerable to supply chain disruptions now for three reasons: the prevalence of just-in-time inventory management at U.S. producers, the high share of products used in the U.S. that are imported and that these imports come from a broader range of countries.  Read More

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BEA News: Gross Domestic Product, 3rd Quarter 2021 (Advance Estimate)

Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the third quarter of 2021, following an increase of 6.7 percent in the second quarter. Read More

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AIA Reports: Demand for Design Services Continues to Increase

Architecture firms continue to report increasing demand for design services in September, according to a new report from The American Institute of Architects (AIA). Read More

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Ceramic World Review updates the rankings of the world’s top ceramic tile groups

Mohawk Industries, Lamosa and SCG lead the rankings. All leading groups are confirming growth forecasts this year, while 2021 rankings will see some changes in positioning due to the major acquisitions completed recently. Read More

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Remodel Activity Projected to Remain Strong into 2022, Says JCHS

The Leading Indicator of Remodeling Activity (LIRA) projects year-over-year gains in annual improvement and repair spending will reach 9% in the fourth quarter and maintain that pace into 2022, according to the by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.  Read More

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Single-Family Home Starts Flat in September

Single-family housing production held steady in September as strong demand helped to offset ongoing building material supply chain disruptions. Meanwhile, declines in multifamily  production helped to push overall housing starts in September down 1.6% to a seasonally adjusted annual rate of 1.56 million, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Read More

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Single family starts flat in September

Single-family housing production held steady in September as strong demand helped to offset ongoing building material supply chain disruptions. Meanwhile, declines in multifamily production helped to push overall housing starts in September down 1.6 percent to a seasonally adjusted annual rate of 1.56 million, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Read More

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Renovation Activity Expected to Remain Strong in Q4

The Q4 2021 Houzz Renovation Barometer found that businesses anticipate strong activity through the end of the year. With steady increases in backlogs since the beginning of the pandemic, construction professionals in particular report wait times of nearly three months before new projects can begin. Read More