Release Date: January 30, 2007
Phone: 954-893-7300
Fax: 954-893-7500
E-mail: nasfm@nasfm.org

link to previous articles

JANUARY 2007

The economy showed some signs of strength lately. The Commerce Department reported that durable goods sales in December rose 3.1% from the previous month, and orders for non-aircraft goods rose 2.4% in December. The Conference Board reported that the index of economic indicators edged up 0.3% in December, after being flat in November and dipping slightly in October. The housing market picked up on several fronts in December, attributed to the unusually warm winter which spurred activity. New home construction was up 4.5% from the previous month, although construction of new single family homes dropped 4.1% in December. New home sales rose 4.8% in December, but sales of existing homes fell 0.8% in December.

LUMBER PRICES. The Bureau of Labor Statistics producer price index showed overall lumber price index in December at 170.7 (1982 equals 100), down from 171.7 the previous month, and down from 193.2 for the same month a year ago. Hardwood lumber was at an index of 193.2, down from 194.9 for the preceding month and down from 197.1 for the same month a year ago. Millwork prices were at an index of 200.7, almost even with 200.5 the preceding month, but up slightly from 199.8 for the same period a year earlier.

FIXTURE LABOR FORCE. The Bureau of Labor Statistics reported that the average hourly wage in the fixture and furniture industry in December was $14.15 an hour, up from a revised $14.02 the previous month, and up from $13.52 an hour a year ago. The average work week of non-supervisor workers was 39.2 hours, up slightly from 38.7 hours the previous month nut down from 40.6 hours a year ago.

NEW STORE CONSTRUCTION. As partially reflected in Commerce Department figures on new commercial construction excluding office and hotels, new stores were part of the $7.18 billion annual rate value of retail and non-office commercial construction in November, down slightly from a revised $7.37 billion for the previous month, but up from $6.51 billion for the same month a year ago.

RETAIL SALES. Seasonally adjusted retail sales (excluding automotive) in November totaled $292.64 billion, up from a revised $289.62 billion for the previous month. and up from $276.49 billion for the same month a year ago. Unadjusted retail sales were $352.78 billion, up from $295.52 billion for the previous month, and up from $337.95 billion a year ago. Seasonally adjusted department store sales totaled $17.71 billion, up slightly from $17.67 the previous month, but down from $17.80 billion a year ago. Seasonally adjusted apparel and clothing store sales totaled $18.11 billion, up slightly from $18.00 the previous month and up from $17.17 billion for the same month a year ago.