Carpet wool optimism

Press, Volume CXIV, Issue 33453, 7 February 1974, Page 3

Carpet wool optimism

(New Zealand Press Association) WELLINGTON. United States carpet manufacturers and retailers are optimistic about prospects for carpets this year, according to an International Wool Secretariat report.

The report said the feeling of most buyers at last month’s giant annual Chicago carpet fair was that now was the time to buy to ensure continuity of delivery in case of worse shortages later in the year. Other markets, including New York, Dallas, Los Angeles, and Seattle also reported a good buying pace and similar optimism. The carpet industry had forecast an 8 per cent increase in sales this year, the report said.

Better-grade wool carpets were continuing to sell at a good price, and wool prices

were not causing much concern partly because of rising prices of synthetics and shortages of raw materials. Although new wool introductions were at a minimum at Chicago, interest and optimism was high among retailers, importers and selected manufacturers. Most carpet mills took an optimistic view about 1974 and produced the same number of market introductions as a year ago. However, there was less emphasis on lowerpriced goods in favour of higher-priced grades. There are predictions that printed tufted carpet will represent as much as 15 per cent of the total output in 1974, an increase of 2 per cent from 1970.