Articles
Tariffs Loom
President Donald Trump issued an executive order that will impose double-digit tariffs on Canada, Mexico and China, to take effect on Feb. 4. At press time, the tariffs against Mexico were delayed for one month according to numerous reports. According to statements, the U.S. and Mexico will use the pause to continue negotiations. The proposed tariffs will be an additional 25 percent of duty on imports from Canada and Mexico and 10 percent on imports from China. The tariffs will apply to all imports except Canadian energy resources exports, which will face a 10 percent tariff instead. Read More
BEA News: Personal Income and Outlays, December 2024
The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today: Personal income increased $92.0 billion (0.4 percent at a monthly rate) in December, according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI)—personal income less personal current taxes—increased $79.7 billion (0.4 percent) and personal consumption expenditures (PCE) increased $133.6 billion (0.7 percent). Read More
Demand for Smaller Homes in Walkable Neighborhoods Growing
The American Institute of Architects (AIA) Home Design Trends Survey for Q4 2024, focusing on community and neighborhood design trends, reports that, while the pace of demand for contemporary home styles is waning, demand for smaller homes with simpler exterior features is growing. Read More
BEA News: Gross Domestic Product, 4th Quarter and Year 2024 (Advance Estimate)
Real gross domestic product (GDP) increased at an annual rate of 2.3 percent in the fourth quarter of 2024, according to the advance estimate. In the third quarter, real GDP increased 3.1 percent. The increase in real GDP in the fourth quarter primarily reflected increases in consumer spending and government spending that were partly offset by a decrease in investment. Imports, which are a subtraction in the calculation of GDP, decreased. Read More
Q4 Hotel Construction Pipeline Up 7% in Projects YOY
Hotel construction in the United States hit new historic levels in Q4 2024, according to Lodging Econometrics' (LE’s) latest Hotel Construction Pipeline Trend report. The total pipeline reached 6,378 projects, a new project record, with 746,986 rooms, showing year-over-year (YOY) growth of 7% in projects and 8% in rooms. Read More
Construction Industry Needs 439,000 New Workers in 2025
The construction industry will need to attract an estimated 439,000 net new workers in 2025 to meet anticipated demand for construction services, according to a proprietary model developed and released by Associated Builders and Contractors. In 2026, the industry will need to bring in 499,000 new workers as spending picks up in response to presumed lower interest rates. Read More
Imports of Hardwood Flooring Up 24% in November
U.S. imports of hardwood flooring grew by 24% in November with strong gains in imports from Malaysia and Brazil, according to the Decorative Hardwoods Association. Read More
Set for Success
Tile is ready to slowly grow in 2025 After an uninspired year, the tile sector looks forward to a better 2025. With a strong product foundation, the sector’s manufacturers and distributors look forward to leaving 2024 behind and drive improvement in the new year. Read More