News
New Home Demand Declines in Q4
The National Association of Home Builders (NAHB) fourth-quarter 2022 Housing Trends Report reported that new construction demand fell to 20%, down seven percentage points from the third quarter. The West saw the largest drop in demand, a decrease of ten percentage points to 21%. See NAHB
December U.S. Home Sales Up
U.S. sales of new single-family homes in December 2022 were at a seasonally adjusted annual rate of 616,000, growing 2.3% from November but 26.6% lower than the comparable month in 2021. The seasonally adjusted estimate of new homes for sale at the end of December was 461,000, representing a nine-month supply at the current sales
December Architectural Billings Increase Slightly
The December 2022 Architecture Billings Index (ABI) rose 0.9 points to 47.5, according to The American Institute of Architects (AIA) Economics & Market Research Group. A score above 50 indicates growth in billings. Design contracts grew from 46.9 in November to 49.4. December billings were below 50 in all geographic regions. Firms across all sectors
Kitchen and Bath Cabinet Sales Grow in December
U.S. kitchen and bath cabinet sales in December 2022 were 9.7% higher than the comparable month in 2021 and up 3.1% from November, according to the Kitchen Cabinet Manufacturers Association’s (KCMA) monthly “Trend of Business” member survey. Year-to-date sales increased 16.4% over 2021. Semi-custom sales improved 19.3% from December 2021 and 1.9% from November. Custom
Q4 2022 U.S. Hotel Construction Pipeline Strengthens
The latest U.S. Hotel Construction Pipeline Trend Report by Lodging Econometrics reported fourth-quarter 2022 hotel projects totaled 5,465, up 14% compared to the same period in 2021. Total hotel rooms under construction rose 12% from Q4 2021 to 650,626. Projects in the early planning stages hit a record of 2,348 with 279,912 rooms, increasing from
Canadian Retail Sales Improve Year-Over-Year
Canadian seasonally adjusted retail furniture store sales in November 2022 increased 0.4% from October to $1.18 billion (CAD) but were 5.9% lower than the same month in 2021. Sales for building material dealers fell 3.8% from October to $3.94 billion and dropped 2.4% from 2021. Total Canadian retail sales dipped 0.1% from October to $61.8
U.S. Furniture Orders Drop in November
U.S. residential furniture factory orders in November 2022 decreased 34.6% from the comparable month in 2021. Year-to-date orders fell 33.7% over the same period in 2021. Furniture shipments dipped 1.5% from November 2021 but were up 5.8% year-to-date. With shipments continuing to outpace new orders, November backlogs declined 48.4% from 2021 and 9% from October
Mexico Manufacturing Softens in January
The seasonally adjusted S&P Global Mexico Manufacturing Purchasing Managers’ Index (PMI) in January was 48.9, dropping 2.4 points from December 2022. The index decline was attributed to decreased client sales, inflation, and economic challenges. The PMI index comprises five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times and stocks of raw materials.
CPA Vice Chairman Canary to Retire
Steve Canary, current CPA Vice Chairman, announced his retirement from Panolam Surface Systems effective January 31 after more than 17 years with the company. Steve, Panolam’s Senior Vice President of Engineered Products and Technology, has served in various CPA leadership roles since 2014 including the Executive Committee and Board of Directors as well as participating
December Safety Report Now Available
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Spring Meeting Hotel Reservations & Exhibit Space Available
Hotel Reservations are open for CPA’s 2023 Spring Meeting, April 16-18 (departure on the 19th), at the Westin La Paloma Resort in Tucson, AZ. The meeting begins on Sunday with the annual golf tournament at 8 am, followed by the Welcome Reception at 6 pm. The meeting concludes Tuesday evening with the Chairman’s Dinner following
Fastmarkets RISI Particleboard and MDF Commentary Published
The January issue of the Particleboard and MDF Commentary has been published and includes a detailed economic analysis of the North American market. The Commentary is published by Fastmarkets RISI monthly and permits CPA to republish issues quarterly as a benefit to members. See Particleboard and MDF Commentary