Production by U.S. manufacturing, mining and utilities industries increased 0.4 percent in April, the fourth straight monthly rise, boosted in part by automakers seeking to keep up with demand.
Favorable housing affordability conditions, strong underlying demand, the improving economy, and unusually good weather encouraged home buyers to get into the market and drive total state existing-home sales to a new record in the first quarter of 2002.
Foamex International reported improved sales results in the first quarter of 2002 even though net income was off from the year-earlier period due to accounting charges.
Congoleum Corp. reported that the company's sales for the three months ended March 31, 2002 were $57.9 million, compared with sales of $51.6 million reported in the first quarter of 2002, an increase of 12.3%.
Matsushita Electric Works Ltd. in partnership with a company in Dalian, China, has set up a joint firm to make and sell electric carpets for the Chinese market.
Stung my losses, building products company Louisiana-Pacific Corp. has embarked on a radical restructuring initiative to cut debt that includes the sale of businesses and a 45% reduction in its workforce.
Worker productivity, a key ingredient to the economy's long-term vitality, shot up at an annual rate of 8.6% in the first quarter, the best performance in nearly 19 years.
Mohawk Industries has introduced a new "Mohawk makes the room" national advertising campaign that was developed to continue the company's successful brand positioning.
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