News
Furniture Orders Drop in June
U.S. residential furniture factory orders in June decreased 39% from the comparable month in 2021. Year-to-date orders fell 27% over the same period in 2021. Furniture shipments grew 10% from June 2021 and were up 7% year-to-date. With shipments outpacing new orders, July backlogs declined 17% from 2021. See Smith Leonard
U.S. Manufacturing Index Dips in August
The seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) in August was 51.5, declining 0.9 points from July. Manufacturers cited inflation and a drop in demand contributing to the decrease in production. The PMI index is composed of five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times and stocks of
July Canadian Building Permits Decrease
Canadian building permits in July dropped 6.6% from June to $11.2 billion (CAD) but were 9.6% higher than the year-ago period. Residential authorizations declined 8.6% from June to $7.6 billion and increased 6.7% from July 2021. Single-family totals reached $3.6 billion, down 5.7% from June but were up 14.8% from the prior year. Multi-family levels fell 11.1%
Mexico Manufacturing Remains Slow in August
The seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) in August was 48.5, consistent with July. Manufacturers reported supply-chain challenges and increased costs driving the production decline. The PMI index is composed of five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times and stocks of raw materials. A reading above
July Shipments Report Available
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Health Canada Releases Composite Wood Products Formaldehyde Rule Guidance
On August 12, Health Canada released guidance addressing its formaldehyde rule for composite wood products that was finalized in July 2021. The guidance had been under development for many months and was intended to clarify aspects of the rule before it becomes effective on January 7, 2023. Unfortunately, the guidance falls short of clearing up
CPA Welcomes New Associate Member
CPA is pleased to announce that the Board of Directors recently voted to approve the following new Associate Member. SHW provides bulk handling solutions, mainly focused on silos and silo reclaimers, used in many wood manufacturing facilities across the country. See SHW Storage and Handling Solutions. More Info: Jeannie Ervin
July U.S. Construction Spending Falls
U.S. construction spending in July was estimated at a seasonally adjusted annual rate of $1.777 trillion, down 0.4% from June and an 8.5% increase over the year prior. Private construction spending was $1.424 trillion, 0.8% lower than June’s seasonally adjusted annual rate. Residential totals for July dropped 1.5% from the previous month to $920.4 billion
Consumer Confidence Rallies in August
U.S. consumer confidence in August registered at 103.2, increasing 7.9 points from July, according to The Conference Board Consumer Confidence Index. The index measuring current business and labor market conditions, rose 5.7 points to 145.4 in August. The short-term outlook for income, business and the labor market climbed 9.5 points from July to 75.1. See
U.S. Kitchen and Bath Cabinet Sales Up Year over Year
U.S. kitchen and bath cabinet sales in July were 19.7% higher than the comparable month in 2021 but dropped 12.5% from June, according to the Kitchen Cabinet Manufacturers Association’s (KCMA) monthly Trend of Business member survey. Year-to-date sales grew 15.6% over 2021. Semi-custom sales increased 28.3% from July 2021 but decreased 8.3% from June. Custom
Furniture Orders Drop in June
U.S. residential furniture factory orders in June decreased 39% from the comparable month in 2021. Year-to-date orders fell 27% over the same period in 2021. Furniture shipments grew 10% from June 2021 and were up 7% year-to-date. With shipments outpacing new orders, July backlogs declined 17% from 2021. See Smith Leonard
U.S. Manufacturing Index Dips in August
The seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) in August was 51.5, declining 0.9 points from July. Manufacturers cited inflation and a drop in demand contributing to the decrease in production. The PMI index is composed of five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times and stocks of
