Consumer Sentiment Rose 3% to 51.5 in July
Ann Arbor, MI, July 29, 2022—Consumer sentiment rose 3% to 51.5 in July, according to final results from the University of Michigan’s Survey of Consumers.
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.
Mortgage Rate Falls to 5.3% in Last Week of July
Washington, DC, July 29, 2022-Mortgage rates fell after rising for two straight weeks, another indication that recession concerns are impacting the U.S. housing market, reports the Wall Street Journal.
Personal Income Increased 0.6% in June, Spending Up 1.1%
Washington, DC, July 29, 2022-Personal income increased $133.5 billion (0.6%) in June, according to estimates released by the Bureau of Economic Analysis.
Bentley Names Holly Holton Global Director of Sustainability
Los Angeles, CA, July 29, 2022-Bentley Mills has appointed Holly Holton as global director of sustainability.
Galleher Forms Distribution Partnership with Portamix
Santa Fe Springs, CA, July 29, 2022 – Galleher announced a distribution partnership with New Zealand-based Portamix, manufacturer of the Hippo and Pelican lines of mixing equipment for self-leveling floor coating.
Unilin Introduces Technology Focussed on Underfoot Comfort
Waregem, Belgium, July 29, 2022—Comfort Core Technology, which creates a soft, comfort-first feel, was developed by Pelican Creations Home and Unilin Technologies in the beginning of the year.
EU Hardwood Regulation May Impact U.S. Loggers
Washington, DC, July 29, 2022—"American Hardwood Export Council commented on draft EU deforestation regulations that would require geolocation data for the specific ‘plot(s) of land’ where all regulated materials—including wood—were sourced,” reports the Decorative Hardwoods Association.
Federal Reserve Raises Interest Rate Another .75%
Washington, DC, July 28, 2022-The Federal Reserve continued a sprint to reverse its easy-money policies by approving another unusually large interest rate increase and signaling more rises were likely coming to combat inflation that is running at a 40-year high, according to the Wall Street Journal.
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.
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.