Consumer Sentiment Declined 6% to 63.8 in October
Ann Arbor, MI, October 27, 2023-Consumer sentiment declined 6% to 63.8 in October, according to the final results from the University of Michigan Survey of Consumers.
Today's Flooring News
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Spending Rose 0.7% in September; Personal Income Up 0.3%
Washington, DC, October 27, 2023-Personal income increased $77.8 billion (0.3% at a monthly rate) in September, according to estimates released by the Bureau of Economic Analysis.
Inflation Expected to Keep Fed Rate Hike Paused
New York, NY, October 27, 2023-"The Federal Reserve’s favorite inflation measure is estimated to show that price pressures picked up modestly last month amid a surge in economic growth, a strong labor market and a consumer spending splurge,” reports the Wall Street Journal.
Mannington Comml. Forms Partnership with Appalachian Carbon Exchange
Calhoun, GA, October 27, 2023—Mannington Commercial, a manufacturer of commercial flooring products, is partnering with Appalachian Carbon Exchange (ACE), a non-profit initiative of the Tennessee River Gorge Trust, as its carbon offset partner.
Spec-ID and JengAI Products Now Integrate
Charlottesville, VA, October 27, 2023—Spec-ID, an innovator in commercial construction product data, announced the seamless integration between Spec-ID and JengAI.
Q3 GDP Rose 4.9%
Washington, DC, October 26, 2023—Real gross domestic product (GDP) increased at an annual rate of 4.9% in Q3 2023, according to the advance estimate released by the Bureau of Economic Analysis.
America’s Floor Source Acquires MK Interiors
Columbus, OH, October 26, 2023-America’s Floor Source (AFS) has acquired MK Interiors in Northern Kentucky.
Pending Home Sales Rose 1.1% in September
Washington, DC, October 26, 2023—The Pending Home Sales Index (PHSI) rose 1.1% to 72.6 in September, according to the National Association of Realtors.
Hotel Construction Pipeline Up 7% YOY Through Q3
Portsmouth, NH, October 26, 2023—At the close of Q3 2023, the total U.S. construction pipeline stands at 5,704 projects/672,676 rooms, up 7% year-over-year (YOY) by projects and rooms, according to the most recent Construction Pipeline Trend Report for the United States by Lodging Econometrics (LE).
Durable Goods Orders Rose 4.7% in September
Washington, DC, October 26, 2023—New orders for manufactured durable goods in September, up following two consecutive monthly decreases, increased $13.2 billion or 4.7% to $297.2 billion, the U.S. Census Bureau announced.