If honesty would truly prevail, most floor covering manufacturers would admit that the second quarter rain of slowing sales activity had definitely dampened the industry’s growth potential. Prudent manufacturers responded by cutting back on production to limit inventories and minimize their potential for losses.
Fortunately for the hardwood flooring segment of the floor covering industry, the impact of wavering consumer confidence has been minimal compared to the difficulties experienced by competing soft-surface manufacturers. Demand for hardwood floors remained fairly strong in mid- to upper-range housing developments and was even healthier in the remodel/replacement market.