The company said it faced macroeconomic headwinds from inflation and a shift in consumer spending to travel and leisure this year compared to stimulus and nesting spending in the first quarter of 2021.
More than two-thirds of companies surveyed said they are anticipating this will be a good or very good year, and that demand for their services will continue to increase.
At the Fuse Alliance 2022 annual conference, leaders from EF Contract, J+J Floors, Mohawk Group, Schönox, Taylor Adhesives, Teknoflor and Tarkett shared insight on what to expect in commercial flooring in 2022.
While many economists expect inflation to moderate over the course of 2022, as of now, there is effectively no relief in sight for the nation’s contractors, according to Associated Builders and Contractors.
Lansing-East Lansing, Michigan, was named most affordable major housing market and Los Angeles-Long Beach-Glendale, California, was named least affordable major housing market.
Building material costs are up 21% compared to a year ago and persistent supply chain bottlenecks remain the most urgent challenge for builders this year.
Spending by U.S. consumers in major cities is up more than 15% compared to two years ago, fueling a rapid economic recovery that remains on fragile footing as we’ve entered 2022.
