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Housing Affordability Hit Decade Low in Q3 2023

Rising mortgage rates, elevated construction costs and limited existing inventory helped push housing affordability in the third quarter of 2023 to its lowest level in more than a decade. Read More

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Ceramic Imports to U.S. Declined 10.1% in First 9 Months of 2023

In the first nine months of 2023, total US imports of ceramic tile were 141.6 million square meters, a decline of 10.1% from the same period in 2022 when imports were 157.5 million square meters, reports Grosser Consulting. Read More

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Construction Employment Added 23,000 Jobs in October

The construction industry added 23,000 jobs in October as unemployment rates for the sector hovered near the all-time low for the month, according to an analysis of new government data the Associated General Contractors of America. Association officials said the construction industry would likely have hired even more workers to keep pace with strong demand for construction. Read More

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Fed Extends Rate Hike Pause

"Federal Reserve Chair Jerome Powell hinted the central bank might be done raising interest rates for now but was careful not to rule out another increase after officials extended a pause in hikes,” reports the Wall Street Journal. Read More

Economic Indicators Floor Covering Products Industry Forecasts Industry Statistics Reports Stone Statistics

CONFINDUSTRIA MARMOMACCHINE recently issued the tables created by the Association’s Studies Center regarding the stone sector’s export trends in the first half of 2023. The overall export figure – covering both materials and extraction and processing technologies – showed essential confirmation of the record levels of 2022 (+0.1%), or worth of 1,566.3 million euros. Read More

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Inflation Expected to Keep Fed Rate Hike Paused

"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

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Consumer Sentiment Declined 6% to 63.8 in October

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

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BEA News: Personal Income and Outlays, September 2023

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

Ceramic Tile Statistics Competitive Intelligence Economic Indicators Floor Covering Products Industry Forecasts Industry Statistics

Mohawk's Sales Declined 5% in Q3, Earnings Loss of $760 Million

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