Spending Increased 8.2% in May
Washington, DC, June 26, 2020--Personal income decreased $874.2 billion (4.2%) in May, 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.
June Consumer Sentiment Rose 8.0% Over May, But Still Down YOY
Ann Arbor, MI, June 26, 2020—Consumer sentiment rose 8.0% to 78.1 in June, according to final results from the University of Michigan Survey of Consumers.
NKBA Releases 2020 Kitchen & Bath Market Outlook
Hackettstown, NJ, June 26, 2020—The National Kitchen & Bath Association (NKBA) has released the results of its modified 2020 Kitchen and Bath Market Outlook, updated to account for dramatic changes in the industry resulting from the COVID-19 crisis.
Chuck Fowke Named Chairman of NAHB
Washington, DC, June 26, 2020—John “Chuck” Fowke, a Tampa, Florida-based custom homebuilder with 40 years of experience in the home building industry, was named chairman of the National Association Home Builders (NAHB) during the association’s Spring Leadership Meeting last week after 2020 chairman Dean Mon announced he could not finish his year due to personal reasons.
CFL to Invest $70M in New Manufacturing Facility in Calhoun, GA
Calhoun, GA, June 25, 2020-Creative Flooring Solutions (CFL)-a manufacturer of laminate, wood and luxury vinyl-will create 300 jobs and invest more than $70 million in a new manufacturing facility in Calhoun, Georgia.
Q1 GDP Holds Steady at a 5.0% Decline, According to Third Estimate
Washington, DC, June 25, 2020—Real gross domestic product (GDP) decreased at an annual rate of 5.0% in Q1 2020, according to the third estimate released by the Bureau of Economic Analysis.
Armstrong Flooring Expands Capital Resources & Liquidity
Lancaster, PA, June 25, 2020-Armstrong Flooring has amended its senior secured asset-based revolving credit facility ("ABL Facility"), modifying the facility size to $90 million with a maturity date in December 2023 and an interest rate on borrowings based on LIBOR with a floor of 1.00% plus a spread of 2.75% to 4.00%.
Orders for Durable Goods Rose 15.8% in May
Washington, DC, June 25, 2020—New orders for manufactured durable goods in May increased $26.6 billion or 15.8% to $194.4 billion, the U.S. Census Bureau announced.
CCA Global Launching Virus-Destroying Neutralize Program
Manchester, NH, June 25, 2020-CCA Global Partners announced during a virtual meeting with members that it will be enhancing and expanding its current Healthier Living Installation System in a new program named Neutralize. The installation process destroys viruses and other contaminants before, during and after a flooring installation.
Armstrong Earns Department of Energy 2020 Better Practice Award
Lancaster, PA, June 25, 2020—The U.S. Department of Energy (DOE) recognized Better Plants partner Armstrong Flooring with a 2020 Better Practice Award for the company’s “Zero-Kilowatt Challenge,” an innovative effort to reduce energy during plant shutdown.