GDP Rose 6.9% in Q4
Washington, DC, January 27, 2022—Real gross domestic product (GDP) increased at an annual rate of 6.9% in Q4 2021, according to the advance estimate released by the Bureau of Economic Analysis.
Today's Flooring News
Keep up to date with the most recent news in the flooring industry. Today's News...As it happens! We update this news several times a day so you can stay connected.
Fed Announces Plans to Raise Interest Rates Mid-March
New York, NY, January 27, 2022-The Federal Reserve signaled it would begin steadily raising interest rates in mid-March, its latest step toward removing stimulus to bring down inflation, reports the Wall Street Journal.
CFL Granted U.S. Patents on Acoustic Multilayer Flooring
Calhoun, GA, January 27, 2022-CFL Flooring (Creative Flooring Solutions) announced that the United States Patent and Trademark Office has granted patents related to its acoustic multilayer flooring products, further strengthening the company’s intellectual property portfolio.
I4F Introducing True Grout Technology for SPC/Rigid Core
Las Vegas, NV, January 27, 2022-I4F, a group of companies providing patents and technologies to the flooring industry, is introducing True Grout on SPC/rigid core tiles and planks, offering durability as well as a middle grout line mimicking two tiles in one.
Pending Home Sales Declined 3.8% in December
Washington, DC, January 27, 2022—The Pending Home Sales Index (PHSI) fell 3.8% to 117.7 in December, according to the National Association of Realtors. Year-over-year, transactions decreased 6.9%. An index of 100 is equal to the level of contract activity in 2001.
Orders for Durable Goods Declined 0.9% in December
Washington, DC, January 27, 2022—New orders for manufactured durable goods in December decreased $2.4 billion or 0.9% to $267.6 billion, the U.S. Census Bureau announced.
Initial Jobless Claims Declined by 30K in Third Week of January
Washington, DC, January 27, 2022—In the week ending January 22, the advance figure for seasonally adjusted initial claims was 260,000, a decrease of 30,000 from the previous week's revised level, reports the Department of Labor.
WFCA Announces Event Lineup for Surfaces
Dalton, GA, January 27, 2022—The World Floor Covering Association (WFCA) announced its lineup of guest speakers and in-booth event details for TISE 2022, themed “Reset. Reconnect. Renew.”
Dallas Led Hotel Construction Pipeline in Q4
Portsmouth, NH, January 27, 2022—In the recent U.S. Construction Pipeline Trend Report released by Lodging Econometrics (LE), at the close of the fourth quarter of 2021, Dallas leads the U.S. markets in the number of pipeline projects with 152 projects/18,180 rooms.
Existing-Home Sales Rose 11.9% in December
Washington, DC, January 26, 2022-Sales of new single-family houses in December 2021 were at a seasonally adjusted annual rate of 811,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development, 11.9% above the revised November rate of 725,000 but 14.0% below the December 2020 estimate of 943,000.