Leading Indicators Fall Again: Slow Economy Ahead
Washington, DC, Sept, 18, 2008--The index of leading economic indicators fell 0.5 percent in August after sinking 0.7 percent in July, the Conference Board said Thursday.
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Initial Jobless Claims Rise on Hurricane Damage
Washington, DC, Sept. 18, 2008--Initial jobless claims rose unexpectedly by 10,000 last week, as job losses from Hurricane Gustav began to mount, the Labor Department reported on Thursday.
Omnova Sees Earnings Slide in Third Quarter
Fairlawn, OH, Sept. 17, 2008--Omnova Solutions Inc. reported net income of $3.1 million, or $0.07 per share, for the third quarter ended Aug. 31 compared to net income of $4.5 million, or $0.11 per share, for the third quarter of 2007.
Housing Starts Hit 17-Year Low
Washington, DC, Sept. 17, 2008--Home construction fell a second month in a row during August, falling below expectations to the lowest level in 17 years.
Home Builder Sentiment Improves
Washington, DC, Sept. 16, 2008--U.S. home builders grew more confident about their business in early September, with sentiment rising for the first time in seven months, according to the the National Association of Home Builders.
Mortgage Refinancing Soars on Lower Rates
Washington, DC, Sept. 17, 2008--Mortgage applications surged last week as refinancing soared on falling interest rates.
Fed Leaves Key Interest Rate Unchanged
Washington, DC, Sept. 16, 2008--The Federal Reserve left its main interest rate at 2 percent.
Gerflor To Raise Prices
Chicago, IL, Sept. 16, 2008--Gerflor said it will increase prices 5 percent.
Mohawk Celebrates Unveiling of 'Green House'
Atlanta, GA, Sept. 17, 2008--Brock Built Homes, WSB-TV, Mohawk Industries, and others celebrated the construction of Brock Built’s Going Green “The Green House,” with an open house for participating companies.
China Most Significant Hardwood Importer
Washington, DC, Sept. 16, 2008-- The U.S. wood flooring and hardwood plywood industries have faced increasing competition from imports in recent years, particularly from China, which has become its most significant competitor.