Q2 GDP Declined 0.9%
Washington, DC, July 28, 2022-Real gross domestic product (GDP) decreased at an annual rate of 0.9% in Q2 2022, according to the advance estimate released by the Bureau of Economic Analysis.
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Ocean Rates Continue to Decline but Remain High
Jerusalem, Israel, July 28, 2022—Ocean rates continue to slide, with China-U.S. West Coast dropping 15% in the last month, reports Freightos.
Hardwood Manufacturer Aacer Closing Doors at the End of July
Peshtigo, WI, July 28, 2022—Aacer Flooring, which manufactures hardwood flooring, is in its final week of operation, reports the Green Bay Press Gazette.
Laticrete Names Samantha Rothberg Director, Marketing Communications
Bethany, CT, July 28, 2022—Laticrete has appointed Samantha Rothberg to director, marketing communications.
NTCA Holding Stadards-Based Workshops in 7 States in August
Flowood, MS, July 28, 2022—National Tile Contractor’s Association (NTCA) is traveling in August to bring training and education to Florida, Georgia, North Carolina, Washington, Oklahoma, Texas and Illinois.
Initial Jobless Claims Declined by 5K in Week Ending July 23
Washington, DC, July 28, 2022—In the week ending July 23, the advance figure for seasonally adjusted initial claims was 256,000, a decrease of 5,000 from the previous week's revised level, according to the Department of Labor.
U.S. Hotel Construction Pipeline Rose 9% YOY in Q2
Portsmouth, NH, July 27, 2022-According to the recently released United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the total U.S. construction pipeline stands at 5,220 projects/621,268 rooms at the close of 2022’s second quarter, up 9% year-over-year (YOY) by projects and 4% YOY by rooms.
Pending Home Sales Declined 8.6% in June
Washington, DC, July 27, 2022—The Pending Home Sales Index (PHSI) dipped 8.6% to 91.0 in June, according to the National Association of Realtors. Year-over-year, transactions shrank 20.0%.
International Monetary Fund Downgrades Global Outlook for '22 & '23
New York, NY, July 27, 2022—The International Monetary Fund (IMF) cut its global growth outlook for this year and next, warning that the world economy may soon be on the cusp of an outright recession, reports the Wall Street Journal.
Mortgage Applications Declined 1.8% in Week Ending July 22
Washington, DC, July 27, 2022—Mortgage applications decreased 1.8% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 22, 2022.