Cutlery and Handtool Manufacturers NAICS 3322

Jul 18, 2026 - 21st Century ROAD to Housing Act

• The newly enacted 21st Century ROAD to Housing Act is expected to boost US housing construction by reducing regulatory barriers and accelerating residential development, Forbes reports. The federal law streamlines environmental reviews, expands incentives for local governments to increase housing production, supports pre-approved home designs, and promotes manufactured, modular and other factory-built housing. It also modernizes financing programs, expands infrastructure and planning grants, and preserves the build-to-rent model by removing a proposed requirement that developers sell rental homes after seven years. While the legislation is unlikely to lower home prices immediately, it is expected to improve the long-term construction pipeline by shortening approval times, lowering development costs and encouraging greater investment in new housing projects, driving demand for handtools used by builders and ultimately household cutlery.
• The Iran war and effective closure of the Strait of Hormuz are disrupting global metals supply chains, according to Wood Mackenzie analysts. The region is a key supplier of aluminum and steel inputs, and disruptions to ports and shipping routes are tightening supply and raising market risk for manufacturers that purchase metals. Aluminum markets were already projected to face a deficit, and interruptions to exports from Gulf producers could further tighten supply and push prices higher. The most immediate impact is on steel markets. Iran typically exports about 4 million tons of finished steel and 7–8 million tons of semi-finished products annually, roughly 11% of global semi-finished steel trade. With ports disrupted, this supply has effectively disappeared, causing billet prices to surge as buyers seek alternative sources. For manufacturers that rely on metal inputs, the conflict increases the likelihood of higher raw material costs, shipping delays, and supply volatility.

• The US construction industry, a key end-user of knives and handtools, shed 11,000 jobs on net in February, according to an Associated Builders and Contractors analysis of Labor Department data. Nonresidential construction employment shrank by 3,800 positions, with losses in two of the three subcategories. Heavy and civil engineering lost 6,500 jobs, and nonresidential specialty trade lost 1,400 positions, while nonresidential building added 4,100 jobs in February. Construction employment has declined in eight of the past 11 months, and industry backlog has dropped to a four-year low, reflecting weaker construction activity and spending. For manufacturers of knives and handtools, these trends may signal softening near-term demand, particularly for products tied to infrastructure, specialty trades, and certain nonresidential projects. However, modest job gains in nonresidential building suggest some continued demand for tools used in construction, potentially supporting orders despite the broader slowdown.
• Employment among cutlery and handtool manufacturers increased 1.5% year over year in May, according to the latest US Bureau of Labor Statistics data. Over the past decade, industry employment grew 5.9%, lagging the 11% increase in total private-sector employment. At the same time, the industry's average hourly wage rose 8.6% from a year earlier to a record $30.43. Profitability also improved across the broader fabricated metal products sector, which includes cutlery and handtool manufacturing. After-tax profits reached $7.2 billion in the fourth quarter, up 35.7% year over year, although they declined 3.6% from the third quarter, according to the latest Census Bureau data.