Woodworking Industry News

Wood products industry sputters the most in new PMI survey

The U.S. manufacturing downturn deepened in January, fueled by a further pullback in orders and factory production. Of the 15 industries tracked, Wood products contracted the most while furniture was the fourth-ranked industry in terms of contraction. The Institute for Supply Management’s gauge of factory activity fell for a fifth straight month in January to 47.4, the weakest since May 2020. Readings below 50 indicate contraction.

Woodworking Industry News

July manufacturing PMI grows

Economic activity in the manufacturing sector grew in July, with the overall economy achieving a 26th consecutive month of growth, say the nation's supply executives in the latest Manufacturing ISM® Report On Business. Wood products was one of few that fell back,

Woodworking Industry News

REPORT: Furniture market continues to grow

TEMPE, Ariz. – Despite continuing issues with labor shortages and supply chain issues, the economy including the furniture and related products market segment continued to grow, according to the Manufacturing ISM Report On Business. According to the report from the Institute for Supply Management, economic activity in the manufacturing sector grew in January, with the overall economy achieving a 20th consecutive month of growth.