Producer Prices Rose 0.3% in July
Washington, DC, August 11, 2023—The Producer Price Index for final demand increased 0.3% in July, seasonally adjusted, the U.S. Bureau of Labor Statistics reported.
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.
Frontier Surfaces Acquires Builder Flooring Solutions
Harrisburg, PA, August 11, 2023-Frontier Surfaces has acquired Builder Flooring Solutions (BFS), a Pennsylvania-based contract flooring company that services builders, developers, and multifamily property owners.
U.S. Customs Continues to Block LVT Shipments from Asia.
Chattanooga, TN, August 10, 2023—Importing LVT from Asia continues to be a source of frustration for several major importers, as roughly $200 million (at wholesale value) has been either quarantined or returned to the sender.
July Inflation Up 3.2% Annually
Washington, DC, August 10, 2023-The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2% in July on a seasonally adjusted basis, the same increase as in June, the U.S. Bureau of Labor Statistics reported.
U.S. Crude Reaches Highest Price of 2023
New York, NY, August 10, 2023—"Three major factors are shaping the oil market in 2023. Two of them helped push U.S. crude on Wednesday to its highest price of the year,” according to the Wall Street Journal.
Housing Affordability Declined in Q2 2023
Washington, DC, August 10, 2023—Rising home prices and interest rates coupled with elevated construction costs, low existing inventory and solid demand resulted in a significant decline in housing affordability during Q2 2023.
Initial Jobless Claims Rose by 21,000 in Week Ending August 5
Washington, DC, August 10, 2023—In the week ending August 5, the advance figure for seasonally adjusted initial claims was 248,000, an increase of 21,000 from the previous week's unrevised level of 227,000, according to the Department of Labor.
Shaw Contract Has Launched StudioOne Design Suite
Cartersville, GA, August 10, 2023-Shaw Contract unveiled StudioOne, a customized and curated suite of design services.
LL Flooring's Net Sales Declined 20.9% in Q2, Earnings Down 17.8%
Roanoke, VA, August 9, 2023—LL Flooring reported net sales of $236.4 million for Q2 2023, a decrease of 20.9% from Q2 2022’s $299 million, driven by a decrease in transaction count reflecting by lower spending by consumers and pros.
Mortgage Applications Declined 3.1% in Week Ending August 4
Washington, DC, August 9, 2023— For the week that ended August 4, mortgage applications fell 3.1% from the prior week, according to data from the Mortgage Bankers Association.