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Jul 03, 2023 / The Right News Right When It Happens

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Construction Spending Rose 0.9% in May

Washington, DC, July 3, 2023-- Construction spending during May 2023 was estimated at a seasonally adjusted annual rate of $1,925.6 billion, 0.9% above the revised April estimate of $1,909.0 billion, according to the U.S. Census Bureau.

Today's Flooring News

Construction Employment Rose in 230 Metro Areas in May

Washington, DC, July 3, 2023—Construction employment, not seasonally adjusted, rose from May 2022 in 230 (64%) of the 358 metro areas (including divisions of larger metros) for which BLS posts construction employment data, fell in 79 (22%), and was unchanged in 49, according to an analysis by Associated General Contractors.

Lumber Sales Benefit from Residential Construction Activity

New York, NY, July 3, 2023—"Their stocks aren’t quite as hot as home builders’, but Weyerhaeuser, Boise Cascade and others that own sawmills and make wood panels have been big winners lately, thanks to the recovery in residential construction,” reports the Wall Street Journal.

Purchasing Managers' Index Declined Slightly in June

Tempe, AZ, July 3, 2023—The June Manufacturing Purchasing Managers' Index (PMI) registered 46%, 0.9 percentage point lower than the 46.9% recorded in May, say the nation's supply executives in the latest Manufacturing ISM Report On Business.

I4F Forms Partnership with Karl Pedross

Turnhout, Belgium, July 3, 2023—I4F, a group of companies providing patents and technologies to the flooring industry, announced that Karl Pedross SpA, a skirting and flooring accessories company based in Italy, has signed an I4F license agreement for the use of I4F wall and ceiling technologies.

Alex Peykar Inducted into American Home Furnishings Hall of Fame

High Point, NC, July 3, 2023—Three industry leaders will be inducted into the American Home Furnishings Hall of Fame on October 15 during the High Point Market.