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Fitch: Home Improvement Spending Restrained for Remainder of 2011 with Further Growth in 2012

CHICAGO–(BUSINESS WIRE)–Fitch Ratings expects restrained home improvement spending growth over

the remainder of 2011 due to a slowdown in the U.S. economy and a

continued soft housing market, with conditions improving in 2012,

according to a new report.

http://qik.com/video/48787802

Fitch currently projects home improvement spending will increase 3% in

2011 and 4% in 2012. Indications are that homeowners, while still

cautious, are somewhat more willing to undertake discretionary projects

and purchases.

Gradual improvement in the economy and moderately better housing market

conditions should provide a catalyst for a slightly more robust growth

in home remodeling spending in 2012. While the industry showed positive

trends in 2010 and so far in 2011, macroeconomic risks such as high

unemployment, tight consumer credit and weak consumer confidence could

halt the rebound in the industry’s recovery. Fitch also notes the

irregular housing market recovery and current market conditions will

also challenge the home improvement industry.

The full ‘Tale of the Measuring Tape: U.S. Home Improvement Industry’ is

available at www.fitchratings.com.

The report provides a comprehensive look at macroeconomic and

industry-specific trends.

Additional information is available at www.fitchratings.com.

Applicable Criteria and Related Research: The Tale of the Measuring Tape

— US Home Improvement Industry
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=646627

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DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING

THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS.

IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE

AVAILABLE ON THE AGENCY’S PUBLIC WEBSITE WWW.FITCHRATINGS.COM.

PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS

SITE AT ALL TIMES. FITCH’S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS

OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES

AND PROCEDURES ARE ALSO AVAILABLE FROM THE ‘CODE OF CONDUCT’ SECTION OF

THIS SITE.

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