Articles

U.S. floor coverings manufacturer sales (shipments minus exports plus imports) growth continued to slow in the fourth quarter of 2022 as mortgage interest rates topped 7.0%. In the fourth quarter, dollar sales could have increased by 2.4%, while square foot sales could have dropped by 5.5%. Square foot sales dropped as housing demand decreased. Read More

Construction contractors are less optimistic about many private-sector segments than they were a year ago, but their expectations for the public sector market have remained relatively bullish, according to survey results released by the Associated General Contractors of America and Sage. The findings are detailed in High Hopes for Public Sector Funding Amid Workforce and Supply Chain Challenges: The 2023 Construction Hiring & Business Outlook. Read More

The global natural stone market is expected to grow from $28.25 billion in 2021 to $30.49 billion in 2022 at a compound annual growth rate (CAGR) of 7.9%. Read More

The goods and services deficit was $61.5 billion in November, down $16.3 billion from $77.8 billion in October, revised, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Read More

"The U.S. economy showed fresh signs of slowing late this year as consumer spending and business demand softened and inflation eased,” reports the Wall Street Journal. Read More

High mortgage rates, elevated construction costs running well above the inflation rate and flagging consumer demand due to deteriorating affordability conditions have dragged builder sentiment down every month in 2022. Read More

Mohawk Industries, Inc. announced today that it has entered into an agreement to purchase the Vitromex ceramic tile business from Grupo Industrial Saltillo (GIS) for approximately $293 million in cash. The transaction is expected to close in the second half of 2022 and is subject to the approval of GIS’s shareholders, as well as customary government approvals and closing conditions. The Vitromex business is expected to be accretive to Mohawk's earnings. Read More

Ceramic tiles stand out for their limitless visual potential, their versatile applications and properties such as their durability and resistance. But what contributions does this material make to the environment and to the current economy? Read More

Strong growth in house prices and rapidly rising mortgage rates have taken their toll on the housing market this year. Housing starts have declined more than 20 percent since hitting over 1.8 million nationally on a seasonally adjusted and annualized rate in April. The consensus among industry experts is that starts will decline even further — probably another 10 percent to 15 percent next year over 2022 levels — before beginning a recovery in 2024 as interest rates and house prices moderate. Read More

According to new data from Research and Markets, the construction industry in the U.S. is expected to grow by 6.5. percent to reach $1,338,125 million in 2022, and the growth momentum is expected to continue through 2026 with a 5.5 percent compound annual growth rate. The report forecasts that construction output is expected to reach $1,658,038.6 million by 2026, which is largely supported by apartment construction. Read More