INDUSTRY NEWS UPDATE FEBRUARY 28, 2019

We're back after a great week at the Kitchen & Bath Industry Show fresh with perspective on upcoming kitchen trends! Now let's recap what's been happening recently in the industry:

 China Challenges US Tariffs on Chinese Imports

Earlier this week Chinese representatives met with the World Trade Organization to begin the process of legally challenging the US tariffs on Chinese imports. China claims that the imports are a "blatant breach of the United States' obligations under WTO agreements and is posing a systematic challenge to the multilateral trading system."

China is seeking to have the WTO block US tariffs on Chinese imports.

Click here to read more.

KCMA

 Lockheed Martin Partners with Veterans Florida

Another example of how companies are attempting to address the skilled labor shortage - Lockheed Martin has partnered with Veterans Florida to expand its job market.

Through the Veterans Florida Career Service Program, veterans are able to connect with employers who are eager to hire them for careers that align with their skill sets. Lockheed plans to assist in expanding the ongoing initiatives of the Veterans Workforce Training Programs by providing new services meant to maximize veteran employment opportunities in Florida. 

Click here to read more.

 Millennials Have Big Plans for Kitchens in 2019

According to recent research from Kitchen & Bath Design News and the Research Institute for Cooking and Kitchen Intelligence, millennials are significantly more likely than Baby Boomers and Matures to undertake a kitchen or bath remodel in 2019. While the level of planned projects has remained virtually unchanged for most homeowners over the last two years, it's up five points among millennials (21% vs 16% of all homeowners).

Click here to read more.

RICKI Research
Photo courtesy of KBDN.

Latest Economic Figures

Cabinet Sales Increase 2% in 2018; Monthly Sales Up 0.7% for December.

U.S. consumer confidence fell to 120.2 in January from 126.6.

Existing home sales fell to the lowest level since November 2015 – 4.99 million units in December.

According to the HIS Markit Flash U.S. Manufacturing PMI manufacturing activity rebounded in January from the weakest pace of growth in 13 months in December.

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To learn more about KCMA's work for the cabinet industry and how you can become a member today, visit our website.

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