KCMA is committed to bringing you the latest news in the cabinet manufacturing industry. Take a look at what’s been happening:
IMPACT OF PANDEMIC DOWN FOR WOODWORKING INDUSTRY
According to a recent survey from Woodworking Network, it appears the perceived impact of covid-19 on the woodworking industry is decreasing. When the survey was first conducted back in March, 36.5% of respondents predicted it would have a major impact on their business. Now, that number has dropped to just 21.3%.
TARIFFS ARE BENEFITING US MANUFACTURING
In 2019, for the first time in six years, the share of US manufacturing demand met by American-made goods increased. This is important because America's domestic market is crucial for manufacturers - it was worth $7 trillion last year. And, recent tariffs are responsible for a large part of this success.
Despite a potential change in administration, keeping these tariffs in place will be critical to the government's strategy to reshore important industries.
The manufacturing sector expanded in October at the fastest pace since September 2018.
New orders for manufactured goods rose 1.1% in September, increasing for the fifth straight month.
Manufacturing added 38,000 workers in October, rising for the sixth straight month.
New orders for durable goods rose 1.9% in September.
New single-family home sales declined 3.5% in September, the first monthly decrease since April, but sales have jumped 32.1% year-over-year.
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