Carpet Backing Statistics Show Cause for “Cautious Optimism”
Saying he hoped it might prove to be “an early Christmas present” for the carpet industry, Carpet and Rug Institute Vice-President Frank Hurd disclosed in a recent online interview that CRI’s Primary Backing Report for November, 2009 showed positive growth for the first time in three years. The interview aired on Floordaily.net, a flooring industry news site produced by Floor Focus magazine. Frank was interviewed by Floor Focus publisher Kemp Harr.
Sometimes even good news can get lost in all the hubbub of the holiday season, so even though it’s been a couple weeks since the interview appeared, I thought it worthwhile repeating.
CRI routinely tracks the demand for primary backing – the foundation material on which carpet is constructed - as a bellwether for the industry at large. According to the information provided to CRI by several of its largest members, the demand for primary backing in November 2009 increased by 14% over November 2008. That’s good news in and of itself, but particularly so, according to Frank, because it marks the first year-over-year increase in this important carpet industry indicator since early 2006.
The good news is juxtaposed against an overall decline in demand of approximately 41% between 2005 and today, including reductions of nearly 17% in 2009 alone. Still, there are other reasons for “cautious optimism”, reported Frank, including lower consumer revolving credit, and the National Association of Manufacturers’ report that in October, U.S. exports outpaced its imports.
Listen to the entire six-minute interview by clicking on this link to Frank Hurd on FloorDaily.
Thanks for your insights, Frank.
~Bethany
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