NAR: Commercial Downturn in Early Stages
Washington, DC, May 18, 2009--Credit availability and refinancing issues have seriously affected commercial real estate markets.
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.
Homebuilder Confidence Improves Again in May
Washington, DC, May 18, 2009--Homebuilder confidence in the market for newly built, single-family homes improved for a second consecutive month in May to the highest level since September.
Budget Director Says Economic Decline Slowing
Washington, DC, May 18, 2009--Peter Orszag, the administration's top budget official, said Sunday that the pace of decline in the U.S. economy appears to have slowed but that the economy wasn't yet in the clear.
Ancora Group Opens Branch in Brazil
Sassuolo, Italy, May 18, 2009--Ancora Group is opening a branch in Brazil, its second foreign branch after its branch in Spain.
Lowe's Earnings Fall 21% From Year Ago
Mooresville, NC, May 18, 2009--Lowe's Companies reported net earnings of $476 million for the quarter ended May 1, a 21.6 percent decline versus the same period a year ago.
Oil Prices Up Nearly $2 Despite Weaker Demand
New York, NY, May 18, 2009--Oil prices rose nearly $2 to around $58 a barrel Monday as traders considered whether last week's push to above $60 was justified amid signs of weak crude demand but rising stock markets.
Remodeling Index Shows Improvement, NAHB Says
Washington, DC, May 15, 2009--The residential remodeling market showed signs of improvement during the first quarter, with significant growth in all indicators, according to the latest National Association of Home Builders’ Remodeling Market Index.
Manufactured Housing Weakness Hits Congoleum
Mercerville, NJ, May 15, 2009--Congoleum Corporation reported a net loss for the quarter of $4.1 million, compared with net income of $1.7 million in the first quarter of 2008.
Mabus Gets Nod from Senate Panel for Navy Post
Washington, DC, May 15, 2009--Former Foamex CEO and Mississippi Gov. Ray Mabus moved a step closer to being named secretary of the Navy after a Senate panel approved his nomination Thursday.
Consumer Sentiment Ticks Up in May
Ann Arbor, MI, May 15, 2009--The Reuters/University of Michigan Surveys of Consumers' preliminary May consumer sentiment index rose to 67.9 from April's final reading of 65.1, according to a report released on Friday.