Home Depot Restructures Leadership to Support Growth Strategy US: The Home Depot has announced a series of leadership portfolio changes aimed at streamlining its operations and supporting its strategy to increase its share of the home improvement market. The organisational changes include the alignment of leadership responsibilities across merchandising, loyalty, finance, professional (Pro) business, and technology. Earlier this year, the company appointed Fran Bell as Execut

US Housing Market Shows Seasonal Slowdown in July US: The US housing market continued its expected seasonal slowdown in July 2026, with sellers making more price reductions while buyer activity remained positive. The national median listing price stood at USD 428,950 in July, unchanged from June but 2.4% lower than a year earlier, marking the ninth consecutive month of annual price declines. The proportion of listings with reduced prices increased to 20%, while pending home s

Strait of Hormuz Disruption Reduces Energy and Industrial Trade Global: Disruptions to shipping through the Strait of Hormuz have reduced global trade in energy, fertilisers and industrial products, according to an update from the International Trade Centre (ITC). The strait accounts for around one-quarter of global seaborne oil trade and a significant share of liquefied natural gas (LNG) and fertiliser shipments, including approximately one-third of globally traded urea. Sin

Indonesia's Economy Grows 5.29% in Second Quarter Indonesia: Indonesia's economy expanded by 5.29% year-on-year in the second quarter of 2026, according to Statistics Indonesia, exceeding the 5.1% median forecast in a Reuters survey despite slowing from 5.61% growth recorded in the first quarter. Household and government spending eased compared with the previous quarter, although government expenditure increased by 15.97% year-on-year, supported by spending on civil servants

New Zealand Unemployment Reaches Highest Level Since 2015 New Zealand: New Zealand's unemployment rate increased to 5.6% in the second quarter of 2026, the highest level since late 2015, according to Statistics New Zealand. The figure rose from a revised 5.4% in the previous quarter and exceeded the market forecast of 5.4%. The increase was driven by a rise in the number of people seeking employment, which outpaced growth in employment. The data indicates continued labour mar

EU Retail Turnover Growth Slows to 2.1% in 2025 Europe: Retail turnover in the European Union increased by 2.1% in 2025, marking a further slowdown compared with the previous year. Northern and Eastern European countries recorded the highest growth rates, led by Norway at 13.1%, followed by Lithuania (10.0%), Sweden (8.9%), Bulgaria (8.2%) and Slovakia (8.0%). The findings highlight differing retail performance across European markets. Among the 31 countries analysed, several

Canada and Toronto Announce Investment for Rental Housing Projects Canada: The Government of Canada and the City of Toronto have announced a partnership to support the construction of more than 5,600 rental homes across over 18 housing projects during the next three years. Under the initiative, the federal government will invest more than CAD 2.7 billion (approximately USD 1.97 billion), with construction on more than 4,500 homes expected to begin before the end of 2026. The

TOTO Reports Higher First-Quarter Sales Despite Lower Operating Profit Japan: TOTO reported net sales of JPY 168.6 billion (approximately USD 1.06 billion) for the first quarter of the fiscal year ending March 2027, up 2.9% year-on-year, while operating profit declined by 0.1% to JPY 8.1 billion (approximately USD 50.8 million). The company attributed the lower profit to reduced bathroom product sales related to the situation in the Middle East and higher external procurement

Bipartisan Bill Proposes Indoor Air Quality Review for US Federal Buildings US: A bipartisan group of lawmakers has introduced the Federal Facilities Indoor Air Quality Assessment Act, which would require a comprehensive review of indoor air quality (IAQ) and HVAC system performance across federal buildings. The proposed legislation follows hazardous wildfire smoke that affected air quality in the Washington, D.C. region and seeks to assess whether federal facilities meet app

HVAC Subscription Model Gains Adoption Among Contractors US: HVAC contractors are increasingly adopting subscription-based business models that provide homeowners with equipment, maintenance, repairs and ongoing support through monthly payments instead of one-time equipment purchases. The approach is intended to provide customers with predictable monthly costs while enabling contractors to generate recurring revenue and maintain longer-term customer relationships beyond tradi

New US Tariffs May Increase HVAC Equipment Costs US: New tariffs introduced by President Donald Trump impose duties of 10% to 12.5% on imports from 60 countries, which may increase the cost of imported HVAC equipment and components. The measures were implemented under Section 301 following investigations into forced-labour enforcement practices after the US Supreme Court ruled that a global import surcharge under the International Emergency Economic Powers Act could not be im

US DOE Proposes Changes to Energy Standards Process for HVAC Equipment US: The US Department of Energy (DOE) has issued a Notice of Proposed Rulemaking to revise the process used to establish federal energy conservation standards for household appliances and equipment, including air conditioning systems. According to the DOE, the proposal aligns with President Donald Trump's Executive Order, Unleashing Prosperity through Deregulation, and would modify the process used to deve