Conference Board Says Housing Correction Ending
Washington, DC, February 22, 2008--The Conference Board said that despite continuing problems in the housing and financial markets, a U.S. recession is not imminent.
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.
Possible U.S. Recession Mutes Pfleiderer's Outlook
Neumarkt, Germany, February 22, 2008-- Pfleiderer AG CEO Hans Overdiek said he is ``more cautious'' on its profit outlook in the face of a possible U.S. recession.
Nourison Carpets Get Green Label Certification
Saddlebrook, NJ, February 21, 2008--Twenty carpet collections from Nourison have received Green Label certification from the Carpet and Rug Institute.
Modular Tile Gives Interface Record Quarter
Atlanta, GA, February 21, 2008--Interface Inc. said it had record operating income in the fourth quarter, rising 31.9 percent to $39.4 million, on the strength of its modular carpet business.
Commercial Real Estate Market Expected To Soften
Washington, DC, February 21, 2008--Commercial real estate market activity is expected to decline moderately in the months ahead, according to a forward-looking index for the commercial real estate sectors published by the National Association of Realtors.
New Mohawk Website Provides Decision Tools
Dalton, GA, February 20, 2008—Mohawk has launched a new website that the company says give consumers the tools they need to make the best flooring decision.
Pfleiderer Earnings Rise Despite Pergo Costs
Neumarkt, Germany, February 21, 2008--Pfleiderer AG, parent of Pergo, said full-year profit rose 19 percent on lower taxes.
Fed Revises Economic Forecast Downward
Washington, DC, February 21, 2008--The Federal Reserve has lowered its projection for economic growth this year due to the housing slump and credit crunch. It also expects higher unemployment and inflation this year.
Initial Jobless Claims Fall But Seen as Temporary
Washington, DC, February 21, 2008—Initial jobless claims fell last week, but the larger-than-expected drop was regarded as only a temporary improvement.
Mohawk Closing Georgia Tufting, Finishing Plants
Calhoun, GA, February 20, 2008-Mohawk said it will close tufting operations at its plant in Armuchee, Ga. and a carpet finishing plant in Dalton. The company said it has to align production with consumer demand.