Articles

"The Federal Reserve’s favorite inflation measure is estimated to show that price pressures picked up modestly last month amid a surge in economic growth, a strong labor market and a consumer spending splurge,” reports the Wall Street Journal. Read More

Consumer sentiment declined 6% to 63.8 in October, according to the final results from the University of Michigan Survey of Consumers. Read More

Personal income increased $77.8 billion (0.3 percent at a monthly rate) in September. Disposable personal income (DPI)-personal income less personal current taxes- increased $56.1 billion (0.3 percent). Read More

Mohawk reported net sales of $2.8 billion for Q3 2023, a 5% decline compared to sales of $2.9 billion in the same quarter last year. The company reported an earnings loss of $760 million for Q3 2023, compared to a loss of $534 million in Q3 2022. Read More

Real gross domestic product (GDP) increased at an annual rate of 4.9 percent in the third quarter of 2023, according to the “advance” estimate. Read More

Annual spending for improvements and repairs to owner-occupied homes is expected to decrease at a moderate rate over the coming year, according to the Leading Indicator of Remodeling Activity (LIRA) released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. Read More

In the first eight months of 2023, total U.S. imports of ceramic tile were 125.8 million square meters, a decline of 9.9% from the same period in 2022. Read More

Despite elevated mortgage rates averaging above 7 percent, single-family starts posted a solid gain in September as more buyers are turning to new homes because of a dearth of inventory in the resale market. Read More

U.S. floor coverings manufacturer sales (shipments minus exports plus imports) continued to decline in the third quarter, however, at a more moderate rate. Dollar sales could have declined by 4.3 percent in dollars and 4.4 percent in square feet. This compares to an 8.1 percent drop in dollar sales and a 9.5 percent decrease in square feet in the first half of 2023. Read More

Total construction starts fell 6% in September to a seasonally adjusted annual rate of $1.2 trillion, according to Dodge Construction Network. Nonresidential starts lost 4%, residential starts declined 6%, and nonbuilding starts fell 9%. Read More