News
Timber Products Inspection Announces New CEO as Williams Retires
Timber Products Inspection, Inc. (TP), based in Peachtree, GA, announced current President, Jay Moore, has taken on the additional role of CEO following the retirement of Ronald Williams. Williams has been with the company for 30 years and will remain Chairman of the TP Board of Directors. See Timber Products Inspection
Q1 2023 U.S. Furniture and Wood Product Sales Decline
First quarter 2023 U.S. wood product manufacturing sales decreased 8.2% from Q4 2022 to $28.1 billion and fell 25.2% from the same period in 2022. After-tax profits increased 7.1% to $2.5 billion from the prior three months but were 61.5% lower than Q1 2022. Furniture sales were down 5.8% from Q4 to $19.1 billion and
U.S. Manufacturing Shipments Weaken in April
Seasonally adjusted shipments for all U.S. manufacturing industries in April dipped 0.4% from March to $572.3 billion. Wood product shipments were down 1.3% in April to $13.2 billion compared to the prior month. Shipments of furniture and related products decreased 1% from March to $6.8 billion. New orders for all U.S. manufacturing rose 0.4% from
April Canadian Building Permits Drop
Canadian building permits in April fell 18.8% from March and 19.6% from the comparable period in 2022 to $9.6 billion (CAD), the slowest month since December 2020. Residential authorizations decreased 6.1% from March and 22.4% from April 2022 to $6.1 billion. Single-family totals reached $2.45 billion, down 3.7% from March and plunging 30.6% from the prior
U.S. Kitchen and Bath Cabinet Revenue Grows Year Over Year
U.S. kitchen and bath cabinet sales in April were $256.1 million, 8.6% higher than the comparable month in 2022 and up 7.6% year-to-date to $978.9 million, according to the Kitchen Cabinet Manufacturers Association’s (KCMA) monthly “Trend of Business” member survey. The number of cabinets sold decreased 3.4% compared to April 2022 but rose 2.7% from
May Consumer Confidence Drops
U.S. consumer confidence in May registered at 102.3, down 1.4 points from April, according to The Conference Board Consumer Confidence Index. The index measuring current business and labor market conditions fell 3.2 points to 148.6 in May. The short-term outlook index for income, business and the labor markets dipped 0.2 points from April to 71.5. See The
April Canadian Wood Product Sales Decline
Seasonally adjusted Canadian wood product sales in April were $2.8 billion (CAD), down 5.5% from March and 38.6% lower than the comparable month last year. Sales of furniture and related products totaled $1.3 billion, decreasing 2.2% from March and dropping 5.4% over April 2022. Canadian manufacturing sales for all industries were $72.3 billion, rising 0.3%
Construction Investment Increases in Canada
Canadian building construction investment in April rose 0.4% from March to $20.3 billion (CAD). Residential construction spending dropped 0.7% from March to $14.4 billion. Seasonally adjusted single-family construction spending dipped 2.1% to $7.7 billion, marking the lowest amount since November 2021. Multi-unit levels were up 0.8% to $6.7 billion in April. Non-residential totals were 3.4%
May Canadian Housing Starts Weaken
The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in May was 202,494 units, 22.5% lower than April. The SAAR of urban starts decreased 24.3% from April to 182,842. Multiple urban starts dropped 30.5% to 139,890, while single-family levels rose 6.3% from April to 42,952. The trend in housing starts fell 4.2%
CPA Welcomes New Associate Member
The CPA Board of Directors recently voted to approve the following Associate Member. MasterBrand Cabinets LLC is one of the largest cabinet manufacturers in North America. The primary member representative is Aaron Songer, Senior Director-Sourcing. See MasterBrand Cabinets LLC. More Info: Jeannie Ervin
Timber Products Inspection Announces New CEO as Williams Retires
Timber Products Inspection, Inc. (TP), based in Peachtree, GA, announced current President, Jay Moore, has taken on the additional role of CEO following the retirement of Ronald Williams. Williams has been with the company for 30 years and will remain Chairman of the TP Board of Directors. See Timber Products Inspection
Q1 2023 U.S. Furniture and Wood Product Sales Decline
First quarter 2023 U.S. wood product manufacturing sales decreased 8.2% from Q4 2022 to $28.1 billion and fell 25.2% from the same period in 2022. After-tax profits increased 7.1% to $2.5 billion from the prior three months but were 61.5% lower than Q1 2022. Furniture sales were down 5.8% from Q4 to $19.1 billion and