GDP Falls More Than Expected in First Quarter
Washington, DC, April 29, 2009--The U.S. economy contracted more than expected in the first quarter as business investment declined at a record rate, the Commerce Department reported Wednesday.
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.
Mohawk Yarn Plant Back at Full Operation
Bennettsville, SC, April 29, 2009--Economic development officials here say that Mohawk Industries' Oak River Mills yarn plant in Marlboro County is back at full operations.
California Home Sales Up Dramatically Over 2008
Sacramento, CA, April 29, 2009--California's housing slump showed signs of improvement in March, with sales of existing single-family homes increasing 64% from a year ago.
Propex Completes Sale of Assets
Chattanooga, TN, April 29, 2009--Carpet backing supplier Propex Inc. completed the sale of its assets to Propex Holding LLC, according to the Dalton Daily Citizen.
Turnaround Specialist Buys UK's Allied Carpets
London, England, April 29, 2009--Allied Carpets, the UK’s second-biggest flooring retailer, was sold by former French owners Tapis Saint-Maclou to offshore fund Sigma Capital in March.
Mortgage Applications Down on Less Refinancing
Washington, DC, April 29, 2009--Mortgage application volume last week fell a seasonally adjusted 18.1% compared with the week befor, even as interest rates charged on fixed-rate mortgages fell, the Mortgage Bankers Association reported Wednesday.
More Boomers Choosing Age Restricted Housing
Washington, DC, April 29, 2009--Most Baby Boomers, like their parents, are choosing to “age in place,” but a large and growing number – more than 1.2 million households – are choosing to move to communities designed to meet their needs
FloorMall Adds Product Viewing Technology to Site
Virginia Beach, VA, April 29, 2009--Online flooring firm FloorMall has recently has added new technology called ProductWall to its website.
Maryland Law Prohibits Minimum Price Requirement
Baltimore, MD, April 29, 2009--Maryland has passed a law that prohibits manufacturers from requiring retailers to charge minimum prices for their goods.
Consumer Confidence Surges in April
New York, NY, April 28, 2009--Consumer confidence soared in April amid hopeful signs that the economy is starting to stabilize.