Consumer Sentiment Rose 1.7% to 81.8 in October
Ann Arbor, MI, October 30, 2020-Consumer sentiment rose 1.7% in October to 81.8, according to final results from the University of Michigan Survey of Consumers.
Today's Flooring News
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Consumer Spending Rose 1.4% in September
Washington, DC, October 30, 2020-Personal income increased $170.3 billion (0.9%) in September, according to estimates released by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $150.3 billion (0.9%), and personal consumption expenditures (PCE) increased $201.4 billion (1.4%).
Koch Industries Makes Investment in Victoria Carpets
New York, NY, October 30, 2020-Koch Industries, which owns Invista and its Stainmaster and Antron brands, will invest more than £218 million ($285 million) in Victoria, a British flooring company that supplies carpet to the royal family, reports MarketWatch.
AHF Introduces Vinyl Collection Under Hartco Contract Brand
Mountville, PA, October 30, 2020-AHF Products is launching Hartco Contract, a new line of vinyl plank and tile floors, including SPC rigid core, loose lay thick LVT and dry back traditional LVT, as well as homogeneous and heterogeneous vinyl sheet designed for light commercial, multi-family and manufactured housing installations.
Tarkett Q3 Global Sales Down 14.4% and Earnings Up 15.2%
Paris, FR, October 29, 2020--Tarkett announced that net sales of €776.9 to million in Q3 2020, a 14.4% decline compared to net sales of €907.1 million in Q3 2019.
GDP Rose 7.4.% YOY in Q3
Washington, DC, October 29, 2020—Real gross domestic product (GDP) increased 7.4% over the prior year quarter and at an annual rate of 33.1% in Q3 of 2020, according to the advance estimate released by the Bureau of Economic Analysis.
Pending Home Sales Index Declined 2.2% in September
Washington, DC, October 29, 2020—The Pending Home Sales Index (PHSI) fell 2.2% to 130.0 in September, according to the National Association of Realtors. Year-over-year, contract signings rose 20.5%. An index of 100 is equal to the level of contract activity in 2001.
Hotel Construction Pipeline Declined 7% in Projects in Q3
Portsmouth, NH, October 29, 2020—The total U.S. hotel construction pipeline, at the end of Q3 2020, stands at 5,282 projects/655,026 rooms, down 7% by projects and 6% by rooms, year-over-year (YOY), according to the latest U.S. Hotel Construction Pipeline Trend Report by Lodging Econometrics (LE).
Houzz Q4 Renovation Barometer Indicates Full Recovery
Palo Alto, CA, October 29, 2020-Houzz Inc. has released the Q4 2020 Houzz Renovation Barometer, which shows that businesses have recovered to pre-pandemic activity levels. In fact, the construction sector is reporting its strongest business activity since Q3 2018.
Initial Jobless Claims Declined by 40,000 in Fourth Week of Oct.
Washington, DC, October 29, 2020—In the week ending October 24, the advance figure for seasonally adjusted initial claims was 751,000, a decrease of 40,000 from the previous week's revised level, according to the Department of Labor.