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Jun 16, 2020 / The Right News Right When It Happens

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Builder Confidence Rose 21 Points to 58 in June

Washington, DC, June 16, 2020—In a sign that housing stands poised to lead a post-pandemic economic recovery, builder confidence in the market for newly-built single-family homes jumped 21 points to 58 in June, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI).

Today's Flooring News

Retail Sales Up 17.7% in May, but Still Down YOY

Washington, DC, June 16, 2020-Advance estimates of U.S. retail and food services sales for May 2020 were $485.5 billion, an increase of 17.7% but 6.1% below May 2019, according to the U.S. Census Bureau.

Signs Indicate that Americans May Be Ready to Spend, Says WSJ

New York, NY, June 16, 2020-Renewed shopping drove a record 17.7% increase in retail sales in May, though total spending remained below levels before coronavirus, reports the Wall Street Journal.

Industrial Production Rose 1.4% in May

Washington, DC, June 16, 2020—Total industrial production increased 1.4% in May, as many factories resumed at least partial operations following suspensions related to COVID-19, according to the Federal Reserve.

Lennar's Q2 Earnings Increased 22.8% YOY, Revenues Down 5%

Miami, FL, June 16, 2020—Lennar Corporation reported a net earnings increase of 22.8% for Q2 2020.

ProSource Opens Huntsville, Alabama Location

Huntsville, AL, June 16, 2020-ProSource Wholesale announces the opening of ProSource of Huntsville, Alabama.

Seagull Select Now Doing Business as Redi Carpet

Stafford, TX, June 16, 2020-Seagull Select, a provider of multi-family flooring, has announced that the company will begin operating under the name of its parent company, Redi Carpet.

Hotel Performance Inched Upward First Week of June

Hendersonville, TN, June 16, 2020—STR data for May 31 to June 6 showed another small rise from previous weeks in U.S. hotel performance. Year-over-year declines remained significant although not as severe as the levels recorded previously.

April Distrib. Trade Sales & Manu. Shipments Down 14.4%

Washington, DC, June 16, 2020—The combined value of distributive trade sales and manufacturers’ shipments for April was estimated at $1,184.8 billion, down 14.4% from March 2020 and was down 18.4% from April 2019, according to the U.S. Census Bureau.