2003 Home Prices Rise 7.97 Percent
Washington, D.C., Mar. 2--U.S. average home prices rose 7.97 percent in 2003 from 2002, driven by strong housing demand and historically low mortgage rates.
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.
Manufacturing Growth Slows
Tempe, AR, Mar. 1— Economic activity in the manufacturing sector grew in February for the ninth consecutive month, while the overall economy grew for the 28th consecutive month.
Construction Spending Slides
Washington, DC, Mar. 1--Spending on new construction slid unexpectedly in January, a Commerce Department report showed on Monday, reflecting continued weakness in commercial building.
Spending, Income Rise
Washington, D.C., Mar. 1--Consumers' spending and income rose in January but the pace slowed. A decrease in taxes helped boost disposable personal income and the personal savings rate.
Furniture War Snarls Retailers, Consumers
New York, NY, Mar. 1--Crate & Barrel, J.C. Penney Co. Inc., Rooms to Go and more than 60 other retailers say the proposed furniture duty could double prices and turn off customers.
Home Depot Increases Share Repurchase Program
Atlanta, GA, Feb. 27-- Home Depot's board of directors declared a quarterly cash dividend of seven cents per share and an increase in its authorized share repurchase program of $1 billion.
Mattsson Resigns From Tarkett
Farnham, Quebec, Feb. 27--Tarkett announced today that Ulf Mattsson has resigned as President and CEO of Tarkett Inc. to pursue other interests.
Consumer Sentiment Index Falls
New York, Feb 27--U.S. consumer sentiment fell sharply in February, as Americans turned cautious about the U.S. economy that has been hampered by sluggish jobs growth, according to a survey released on Friday.
Kohl's 4Q Profit Off 12%
Menomonee Falls, WI, Feb. 27--Kohl's Corp. reported a 12% drop in fiscal fourth-quarter net income, hurt in part by weaker sales at stores open at least a year.
GDP Up 4.1% in 4th Quarter
Washington, D.C., Feb. 27--The U.S. economy was a bit stronger in the final three months of 2003 than earlier projected as the government raised its estimates on spending by consumers and businesses.