Q4 GDP Revised Up to 7% in Second Estimate
Washington, DC, February 24, 2022-Real gross domestic product (GDP) increased at an annual rate of 7.0% in Q4 2021, following an increase of 2.3% in Q3, according to 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.
Shaw, EF and Mohawk Roll Out Price Increases, Effective in April
Chattanooga, TN, February 24, 2022—Shaw, Engineered Floors and Mohawk have announced prices increases.
CFL Granted Patent on GridTech SPC Extrusion Technology
Hong Kong, February 23, 2022-CFL Flooring (Creative Flooring Solutions) has been granted a patent from the United States Patent and Trademark Office for the GridTech SPC Extrusion Technology used on its acoustic multilayer flooring products and other SPC based products.
BASF Announces Price Increase on Caprolactam & Polyamide 6
Wyandotte, MI, February 24, 2022-Effective March 1, or as contracts allow, BASF will increase prices for caprolactam and polyamide 6 (PA6) by $0.10 per pound in North America.
January New Home Sales Dipped 4.5%
Washington, DC, February 24, 2022—Sales of new single-family houses in January 2022 were at a seasonally adjusted annual rate of 801,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development, 4.5% below the revised December rate of 839,000 and 19.3% below the January 2021 estimate of 993,000.
Initial Jobless Claims Declined by 17K in Week Ending February 19
Washington, DC, February 24, 2022-In the week ending February 19, the advance figure for seasonally adjusted initial claims was 232,000, a decrease of 17,000 from the previous week's revised level, according to the Department of Labor.
Beaulieu International Group Announces Price Increase
Waregem, Belgium, February 24, 2022—Beaulieu International Group (B.I.G.) announces further price increases for its flooring product brands to take effect in Q2 2022, or as contract terms allow.
Lowe's Grew Sales 5% in Q4, Earnings Rose 23%
Mooresville, NC, February 23, 2022-Lowe's reported Q4 2021 sales were $21.3 billion, a 5% increase compared to $20.3 billion in Q4 2020.
Architecture Billings Held Steady at 51 in January
Washington, DC, February 23, 2022-The Architecture Billings Index (ABI) score for January was 51.0 compared to 51.0 in December, according to a new report from The American Institute of Architects (AIA).
LL Flooring Sales & Income Declined in Q4
Richmond, VA, February 23, 2022-LL Flooring reported net sales of $285.3 million for Q4 2021, a decrease of 6.2% compared to the prior year period’s $304.2 million.