Core Prices Rose at 2.1% Annualized Rate in July
Washington, DC, August 31, 2023-Personal income increased $45.0 billion (0.2% at a monthly rate) in July, according to estimates 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.
NWFA Launches Scholarship in Paul Stringer's Name
St. Louis, MO, August 31, 2023-The National Wood Flooring Association (NWFA) has established an NWFA Named Scholarship for Paul Stringer, who retired from Somerset Hardwood earlier this year.
Global Hotel Construction Pipeline Rose 3% YOY in Q2
Portsmouth, NH, August 31, 2023-In the Q2 2023 global construction pipeline trend report from Lodging Econometrics (LE) analysts state that the total global construction pipeline stands at 14,572 projects/2,310,238, up 3% year-over-year (YOY) by projects and 1% YOY by rooms.
Initial Jobless Claims Declined by 4,000 in Week Ending August 26
Washington, DC, August 31, 2023—In the week ending August 26, the advance figure for seasonally adjusted initial claims was 228,000, a decrease of 4,000 from the previous week's revised level, according to the Department of Labor.
Pending Home Sales Rose 0.9% in July
Washington, DC, August 30, 2023-Pending home sales increased 0.9% in July-rising for the second consecutive month-according to the National Association of Realtors.
Q2 2023 GDP Revised Down to 2.1% in Second Estimate
Washington, DC, August 30, 2023—Real gross domestic product (GDP) increased at an annual rate of 2.1% in Q2 2023, according to the second estimate released by the Bureau of Economic Analysis.
Mortgage Applications Rose 2.3% in Week Ending August 25
Washington, DC, August 30, 2023—Mortgage applications increased 2.3% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 25, 2023.
Private-Sector Employment Rose by 177,000 Jobs in August
Roseland, NJ, August 30, 2023—Private sector employment increased by 177,000 jobs in August, and annual pay was up 5.9% year-over-year, according to the August ADP National Employment Report produced by the ADP Research Institute in collaboration with the Stanford Digital Economy Lab.
NTCA Releases Annual Contractor Reference Manual for 2023
Flowood, MS, August 30, 2023-The National Tile Contractors Association (NTCA) Reference Manual-an annual compendium of standards-based industry wisdom, tips, and techniques in a cause/cure/prevention format-is now available.
Upton Flooring Acquires Floor Trader Franchise from Rhodes & Company
New York, NY, August 30, 2023-Upton Flooring has acquired Rhodes & Company (dba The Floor Trader-Gulf Coast), announced Generational Equity, which represented Rhodes & Company.