News
U.S. Manufacturing Index Lower in November
The seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) in November was 47.7, dropping 2.7 points from October. Manufacturers reported a decrease in both output and 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 above 50
Consumer Confidence Dips in November
U.S. consumer confidence in November registered at 100.2, decreasing two points from October, according to The Conference Board Consumer Confidence Index. The index measuring current business and labor market conditions fell 1.3 points to 137.4 in November. The short-term outlook index for income, business and the labor market declined 2.5 points from October to 75.4. See The
October U.S. Construction Spending Decrease
U.S. construction spending in October was estimated at a seasonally adjusted annual rate of $1.8 trillion, down 0.3% from September but grew 9.2% over the year prior. Year-to-date spending was 10.8% higher than in 2021 at $1.5 trillion. Private construction spending was $1.4 trillion, 0.5% below September’s seasonally adjusted annual rate. Residential totals for October
U.S. Home Sales Increase in October
U.S. sales of new single-family homes in October were at a seasonally adjusted annual rate of 632,000, growing 7.5% from September but 5.8% lower than the comparable month last year. The seasonally adjusted estimate of new homes for sale at the end of October was 470,000, representing an 8.9-month supply at the current sales rate.
October Architectural Billings Weaken
The October Architecture Billings Index (ABI) dropped four points to 47.7, according to The American Institute of Architects (AIA) Economics & Market Research Group. A score above 50 indicates growth in billings. Design contracts decreased from 50.7 in September to 48.6. October billings were in positive territory for all geographic regions except the West, with
October Kitchen and Bath Cabinet Sales Rise YoY
U.S. kitchen and bath cabinet sales in October were 14.6% higher than the comparable month in 2021 but dropped 6.7% from September, according to the Kitchen Cabinet Manufacturers Association’s (KCMA) monthly “Trend of Business” member survey. Year-to-date sales grew 17.3% over 2021. Semi-custom sales increased 24.5% from October 2021 but decreased 1.3% from September. Custom
CPA 2026 Fall Meeting Begins Sunday
The Fall Meeting at the Hyatt Regency Savannah kicks off this weekend, welcoming over 165 attendees, guests, and spouses from 75 companies. The Monday General Session will feature Scott Lincicome, Vice President of General Economics and the Stiefel Trade Policy Center at the Cato Institute, presenting “Finding (Some) Clarity in the Chaos: North American Trade
U.S. New Home Sales Up in August
U.S. sales of new single-family homes in August were at a seasonally adjusted annual rate of 684,000, climbing 6.4% from the revised July rate but 2.0% lower than the comparable month in 2025. The seasonally adjusted estimate of new homes for sale in August was 483,000, representing an 8.5-month supply at the existing sales rate.
August U.S. Architectural Billings Remain Soft
The American Institute of Architects (AIA) Economics & Market Research Group’s Architecture Billings Index (ABI) gained 0.6 points to 47.2 in August but remained below the 50 threshold. Fewer firms noted a drop in billings than in July, though most continued to report a slow market. Midwest firms posted moderate gains for the first time
U.S. RV Shipments Mixed in August
The RV Industry Association’s monthly survey of U.S. manufacturers reported sales of 23,599 units in August, up 18.3% from July but 16.4% lower than the same month in 2025. Year-to-date shipments dropped 14.2% to 207,191 from the comparable period in 2025. See RV Monthly Shipments
July Canadian Construction Investment Strengthens
July Canadian building construction investment totaled $23.6 billion (CAD), climbing 1.2% above June and 8.1% from the comparable month last year. Residential construction spending edged up 0.3% from June to $16.2 billion and non-residential totals grew 3.2% to $7.4 billion. Seasonally adjusted single-family investment was 3.5% higher than June at $7.8 billion, while multi-unit levels
Canadian Furniture Retail Sales Down in July
Canadian seasonally adjusted retail furniture store sales in July decreased 0.6% from June and fell 2.0% from the same month in 2025 to $1.2 billion (CAD). Sales for building material dealers reached $4.0 billion, up 0.8% from June but 0.4% lower than July 2025. Total Canadian retail sales for the month were $73.7 billion, dipping