Consumer Spending Rose 1.0% in August
Washington, DC, October 1, 2020—Personal income decreased $543.5 billion (2.7%) in August, 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.
E.J. Welch Acquires Territories from Gilford-Johnson
St. Louis, MO, October 1, 2020-E. J. Welch, a division of Center Rock Capital Partners’ Merit Distribution Group, based in St. Louis, Missouri, has acquired the Indiana, Western Tennessee, Kentucky and Ohio territories of Gilford-Johnson Flooring effective September 28, 2020.
Purchasing Managers' Index Dipped to 55.4% in September
Tempe, AZ, October 1, 2020-The September Purchasing Managers’ Index (PMI) registered 55.4%, down 0.6 percentage point from the August reading of 56%, according to the Manufacturing ISM Report On Business.
Construction Spending Rose 1.4% in August
Washington, DC, October 1, 2020-Construction spending during August 2020 was estimated at a seasonally adjusted annual rate of $1,412.8 billion, 1.4% above the revised July estimate of $1,392.7 billion, according to the U.S. Census Bureau.
Kellie Ballew Named Vice President of Global Sustainability for Shaw
Dalton, GA, October 1, 2020—Shaw Industries has promoted Kellie Ballew to vice president of global sustainability.
Floor Folio Receives Approval to Provide CEUs
Edison, NJ, October 1, 2020—FloorFolio Industries receives approval to become an authorized provider of (CEUs) continuing education units.
Denver ProSource Files For Bankruptcy
Denver, CO, October 1, 2020—The Denver franchisee of wholesale flooring retailer ProSource, led by Brett Martin, has filed for Chapter 11 bankruptcy, reports Business Den.
Initial Jobless Claims Declined by 36,000 in 4th Week of September
Washington, DC, October 1, 2020-In the week ending September 26, the advance figure for seasonally adjusted initial claims was 837,000, a decrease of 36,000 from the previous week's revised level, according to the Department of Labor.
Pending Home Sales Index Hit Record High of 132.8 in August
Washington, DC, September 30, 2020-The Pending Home Sales Index (PHSI) rose 8.8% to 132.8- a record high-in August, according to the National Association of Realtors.
Percent of Homeowners Remodeling Increased to 36% in Q2
Hackettstown, NJ, September 30, 2020-The National Kitchen & Bath Association (NKBA) released its Market Outlook report showing the remodeling industry is largely recovering from its Q1 COVID-19-induced dip.