News
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.
Innovation Award Submissions Close September 1
The deadline for the inaugural Innovation Awards submissions is close of business tomorrow, September 1. Developed and managed by CPA’s Decorative Surfaces Council (DSC), the program recognizes significant and creative advances in technology, product development and service solutions in the industry. This is a separate award from the current recognition program for plant safety innovation
Register Now for the Fall Meeting; Exhibit and Sponsor Opportunities Still Available
Registration continues for CPA’s 2023 Fall Meeting, October 22 to 24, at the Lansdowne Resort in Leesburg, Virginia. The resort is located 12 miles from the Washington Dulles Airport (IAD) and is accessible to Reagan National (DCA) and Baltimore Washington (BWI) airports. Speakers include Greg Lewis, Vice President of Wood Panels for Forest Economic Advisors;
CPA Welcomes New Associate Members
The CPA Board of Directors recently voted to approve the following Associate Members. Decor In Printing, Lombardy, Italy, is a decorative surfaces manufacturer specializing in decorative printed papers, high and low-pressure laminate impregnated papers and one-layer edge bandings. The primary representative is Matteo Confalonieri, Chief Executive Officer. See Decor in Printing DSM Firmenich, Rincon, GA,
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.
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