Economy Still Growing, but Barely
Washington, DC, June 26, 2008--The economy grew 1 percent in the first quarter, spurred by stronger sales of U.S. products overseas, according to the Commerce Department.
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.
China To Become Second Largest Retail Market
Columbus, OH, June 26, 2008--China will soon surpass Japan to become the second-largest retail market after the U.S., according to a new forecast from TNS Retail Forward, Marketing Daily reports.
Initial Jobless Claims Remain at 384,000
Washington, DC, June 26, 2008--Initial jobless claims held steady last week but were still at a high level.
CFI To Mark 15th Anniversary at Annual Meeting
Kansas City, MO, June 26, 2008--The Certified Floorcovering Installers Association will mark its 15th annivesary at its annual meeting July 31 to Aug. 2.
UK's Victoria Carpet Says Profit Up 25 Percent
Kidderminster, England, June 26, 2008--Victoria Carpets said its pre-tax profit was up by more than 25 percent, to $6.9 million.
NAHB Supports Home Buyer Tax Credit
Washington, DC, June 26, 2008--The National Association of Home Builders has abandoned its support of a controversial provision in the Senate-passed bill that would have allowed builders to carry back their losses two additional years.
Foamex Begins Stock Rights Offering
Linwood, PA, June 26, 2008--Foamex International has begun its stock rights offering and second lien loan offering.
Fed Leaves Rates Unchanged
Washington, DC, June 25, 2008--The Federal Reserve left its key short-term fed funds interest rate unchanged Wednesday at 2 percent, the first time it held rates steady in the past nine months.
Dow Implements Another Major Price Increase
Midland, MI, June 25, 2008--Dow Chemical Co. said Tuesday that it was raising prices up to 25 percent.
New Home Sales Continue To Fall
Washington, DC, June 25, 2008--Sales of new single-family houses in May 2008 were at a seasonally adjusted annual rate of 512,000, 40.3 percent below last year.