Thursday, July 21, 2011

Flooring Industry stats, 2010

Floor Covering News has the 2010 flooring industry stats here:

While total industry sales in 2010 did actually rise to $16.221 billion after three straight years of decline, the $32 million increase over 2009’s $16.189 billion, barely registers on the meter, making for what most called a “flat” year. In terms of the actual amount of flooring sold, total square footage fell slightly between 2009 and 2010 from 16.807 billion square feet to 16.625 billion square feet, or down 1.1%.

Again, on paper 2010 looks to have been a rough copy of 2009. But as any sports fan will say, championships are not won on paper. Which would explain why most people were eager to see the year end. Like any time period, there were winners and losers, and when examined from more of a macro level, it seemed that last year produced more losers as companies struggled to capture whatever business was out there.

The fact is, those who thought the bottom had been reached at the end of 2009 saw otherwise. And those who expected a quick turnaround after two dreadful years were given a harsh dose of reality.

Shortly after it was officially announced the country was mired in a recession the likes of which had not been seen in over 75 years, it was noted when the economic pendulum hits rock bottom, businesses should not expect it to immediately start swinging upward. In fact, many economists and experts said once the nadir of the trough is reached there was a very good chance the economy would labor along the bottom, showing some signs of life but not truly picking up steam, for a period of time before things begin to steadily go uphill.

So it was for 2010, as the economy basically sputtered—at times allowing people in the industry to believe the recession might truly be over, while other times making them wonder if the country’s economic ship would ever right itself.

Read the whole thing.

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