News
Construction Spending Up in July
U.S. construction spending in July was estimated at a seasonally adjusted annual rate of $2.0 trillion, rising 0.7% from June and 5.5% higher than the same month last year. Year-to-date construction spending increased 3.7% to $1.1 trillion compared to the first seven months of 2022. Private construction spending was $1.5 trillion, climbing 1.0% from June.
August U.S. Manufacturing Index Decline Continues
In August, the seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) was 47.9, dipping 1.1 points from July. Manufacturers reported tempered employment growth and a continued decrease in new orders. The PMI index comprises five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times and stocks of raw materials. A reading
July Canadian Building Permits Improve Year-over-Year
Canadian building permits in July decreased 1.5% from June but rose 4.4% from the comparable period in 2022 to $11.7 billion (CAD). Residential authorizations increased 5.4% from June but dipped 0.8% from July 2022 to $7.4 billion. Single-family totals reached $2.8 billion, up 7.6% from June but down 20.4% from last year. Multi-family levels were $4.6
Canada Manufacturing Index Down in August
The seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) last month was 48, declining 1.6 points from July. Manufacturers reported decreased output and new orders, marking the most significant drop this year. The PMI index comprises five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times and stocks of raw materials.
August Mexico Manufacturing Index Dips
The August seasonally adjusted S&P Global Mexico Manufacturing Purchasing Managers’ Index (PMI) was 51.2, declining two points from July but remained in positive territory. Manufacturers reported a continued, yet slower, increase in new orders. The PMI index comprises five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times and stocks of raw materials.
July TFL Shipments Report Available
The July TFL Shipments Report is available now to Members.
Exhibit and Sponsor Opportunities Available
CPA members can showcase products and services through a tabletop exhibit session and sponsorships at the upcoming Fall Meeting. Benefits include spotlights on the CPA website, social media, and attendee packets. Exhibit details and information about sponsorships are available online. See CPA Fall Meeting. More Info: Allyson O’Sullivan
Con-Vey Names New Mechanical Engineering Manager
Con-Vey LLC, Roseburg, OR, announced Mike Mercker as the new Mechanical Engineering Manager. Mercker began with Con-Vey in 2017 and has worked in the sales and mechanical engineering departments. Mercker will head the organization’s engineering division and distribution of automation solutions. Con-Vey is a manufacturer of automated material handling equipment and proprietary machinery. See Con-Vey
Q2 2023 U.S. Furniture and Wood Product Sales Grow
Second quarter 2023 U.S. wood product manufacturing sales increased 5.9% from Q1 to $29.9 billion but fell 26.9% from the same period in 2022. After-tax profits climbed 12.5% to $2.9 billion from the prior three months but were 51.8% lower than Q2 2022. Furniture sales were up 2.8% from Q1 to $19.6 billion but down
U.S. Furniture Orders Strengthen in June
U.S. residential furniture factory orders in June were $2.5 billion, up 23.0% from June 2022 and 11.1% higher than May. Year-to-date orders fell 7.6% to $12.9 billion from 2022. Furniture shipments dropped 28.5% from last June to $2.5 billion but rose 1.8% from May. June backlogs were $2.9 billion, declining 55.7% from last year but
July U.S. Manufacturing Shipments Increase
Seasonally adjusted shipments for all U.S. manufacturing industries in July rose 0.5% from June to $577.2 billion. Wood product shipments were up 0.2% in July to $13.4 billion compared to the prior month. Shipments of furniture and related products dipped 1.2% from June to $6.8 billion. New orders for all U.S. manufacturing fell 2.1% from
Construction Spending Up in July
U.S. construction spending in July was estimated at a seasonally adjusted annual rate of $2.0 trillion, rising 0.7% from June and 5.5% higher than the same month last year. Year-to-date construction spending increased 3.7% to $1.1 trillion compared to the first seven months of 2022. Private construction spending was $1.5 trillion, climbing 1.0% from June.