b'THE OFFICIAL NFBA MAGAZINEcontinued from page: 21Industry AnalysisRETAIL SALES WHOLESALE TRADE US Total Retail Sales in the 12 months throughAnnual US Total Wholesale Trade was at $7.9September were at $7.99 trillion, 11.7% above trillion in July, 21.5% above the year-ago levelthe same period one year agoBoth business-to-business and consumer Rising wages and a tight labor market oriented spending are at record highs, contributing to rise TRUCEDAR STEEL SIDING to the consumers advantage bode well for in Wholesale Tradefuture Retail Sales spendingWholesale Trade will generally rise through 2023, 6" BOARD & BATTEN IN WHITE BUSINESS ECONOMICS Annual Retail Sales will rise through at least but the pace of rise is likely to slow throughout2023, though at a slowing pace that timeAUTO PRODUCTION MANUFACTURING Annual North America Light Vehicle ProductionAnnual US Total Manufacturing Production wasis rising 4.2% above the year-ago level in September VESTA STEEL SIDING Annual Production will rise through at least2023, surpassing year-ago levels by the end ofRising interest rates could impact demand for 5" PLANK IN GILDED GRAIN2022 Production in numerous sectors; however, thiseconomic impact will likely manifest over years Though easing, supply chain constraints are still rather than immediatelya pain point and annual Production will remainbelow pre-pandemic levels through 2023Annual Production will expand at a slowing pacethrough 2023ROTARY RIG CAPITAL GOODS NEW ORDERS The US Rotary Rig Count averaged 761 units inUS Nondefense Capital Goods New Orders in thethe three months through September 12 months through August were 10.5% abovethe same period one year ago The quarterly Rig Count has risen to just 3.0%The labor shortage and the consequentbelow the pre-pandemic level increased need for automation will contribute to Slowing macroeconomic growth in the US and some rise in New Ordersabroad will soften demand for drilling activityEasing pricing pressures will contribute tocontinued slowing growth in New OrdersTOTAL NONRESIDENTIAL CONSTRUCTION TOTAL RESIDENTIAL CONSTRUCTION US Total Nonresidential Construction in the 12Annual US Total Residential Construction wasmonths through August came in 1.2% above the 19.5% above the year-ago level in Augustyear-ago levelMortgage rates have so far doubled in 2022, However, inflation-adjusted Total Nonresidential breaking above 7% as of mid-OctoberConstruction is below year-ago levels BUILD FOR A LIFETIME WITHInput costs have bolstered the dollar- Construction is likely to rise in the coming denominated Construction data, but Single- QUALITY EDGE STEEL SIDING quarters given its typical lag time to the US Family Housing Starts, which are measured ineconomy units, are contracting Quality Edge steel siding delivers the design options owners want and the look of real wood siding without the maintenance. Homeowners are investing smarter with Kynar coated steel siding that resist fading and wont rot, peel, chip or require caulking. This means your building owners can spend decades truly loving where they live without the CONGRATULATIONS TO cost of upkeep. ITReconomics.com 2022 All Rights Reserved 3 PROVISION CONSTRUCTION & DESIGN BUILDING OF THE YEARVisit www.QualityEdge.com to locate your nearest distributor.EXPERTS RESIDENTIAL DIVISION 22 / FRAME BUILDER - NOV2022 FOR THE ARTIST.NFBA_Ad_0422.indd 1 4/21/22 8:25 AM'