News
May U.S. Home Sales Surge
U.S. sales of new single-family homes in May were at a seasonally adjusted annual rate of 763,000, growing 12.2% from April and 20% higher than the comparable month in 2022. The seasonally adjusted estimate of new homes for sale at the end of May was 428,000, representing a 6.7-month supply at the current sales rate.
U.S. Kitchen and Bath Cabinet Sales Dip in May
U.S. kitchen and bath cabinet sales in May were $236.2 million, 0.3% lower than the comparable month in 2022 but up 6.1% year-to-date to $1.2 billion, according to the Kitchen Cabinet Manufacturers Association’s (KCMA) monthly “Trend of Business” member survey. The number of cabinets sold decreased 16.3% compared to May 2022 and dropped 12.8% from
May RV Shipments Decline
The RV Industry Association’s monthly survey of U.S. manufacturers reported May shipments totaled 30,919 units, dropping 38.8% from the same month in 2022. Year-to-date shipments totaled 140,735, a decrease of 49.7% compared to last year. See RV Industry Association
U.S. Furniture Orders Weaken in April
U.S. residential furniture factory orders in April were $1.9 billion, down 19.5% from April 2022 and a 14.4% decline from March. Furniture shipments dropped 28.5% from April 2022 to $2.3 billion and fell 20% from March. With shipments continuing to outpace new orders, April backlogs were $2.9 billion, declining 64.5% from last year and 7.7%
Houzz Releases Q2 Renovation Barometer Results
The recently released Q2 2023 Houzz Renovation Barometer report for both the construction and architectural and design sectors signals mixed results. The Barometer tracks residential renovation market expectations and recent business activity in the construction and architectural design services industries. Within the construction sector, the Expected Business Activity Indicator for the second quarter dropped two
Health Canada to Amend Formaldehyde Regulations to Fix Issues
On June 16, Health Canada published the proposed Regulations Amending the Formaldehyde Emissions from Composite Wood Products Regulations. Amendments to the Regulations include addressing the quality control testing requirements for composite wood panel manufacturers, streamlining record-keeping requirements for Declarations of Certification and minor amendments to improve clarity, enhance enforceability and alignment with recent changes to
June Mexico Manufacturing Index Improves
The June seasonally adjusted S&P Global Mexico Manufacturing Purchasing Managers’ Index (PMI) was 50.9, growing 0.4 points from May. Manufacturers reported an increase in production despite lower sales due to decreased demand. The PMI index comprises five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times and stocks of raw materials. A reading
May TFL Shipments Available to Members
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Canadian Environmental Protection Act Amended
On June 13, Bill S-5, Strengthening Environmental Protection for a Healthier Canada Act, was passed into law. This is the first significant amendment to the Canadian Environmental Protection Act (CEPA) in over 20 years. Principally, the amendments recognize the right to a healthy environment and modernize the Chemicals Management Plan (CMP) legislative framework. CPA will
Consumer Confidence Improves in June
U.S. consumer confidence in June registered at 109.7, up 7.2 points from May, according to The Conference Board Consumer Confidence Index. The index measuring current business and labor market conditions rose 6.4 points to 155.3 in June. The short-term outlook index for income, business and the labor markets grew 7.8 points from May to 79.3. See The
May U.S. Home Sales Surge
U.S. sales of new single-family homes in May were at a seasonally adjusted annual rate of 763,000, growing 12.2% from April and 20% higher than the comparable month in 2022. The seasonally adjusted estimate of new homes for sale at the end of May was 428,000, representing a 6.7-month supply at the current sales rate.
U.S. Kitchen and Bath Cabinet Sales Dip in May
U.S. kitchen and bath cabinet sales in May were $236.2 million, 0.3% lower than the comparable month in 2022 but up 6.1% year-to-date to $1.2 billion, according to the Kitchen Cabinet Manufacturers Association’s (KCMA) monthly “Trend of Business” member survey. The number of cabinets sold decreased 16.3% compared to May 2022 and dropped 12.8% from