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Fitch: U.S. Home Improvement Spending to Grow Modestly Through 2013

CHICAGO–(BUSINESS WIRE)–Link to Fitch Ratings’ Report: The Tale of the “Measuring” Tape: U.S.

Home Improvement Industry
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=685455

Another sign of the slow U.S. housing turnaround will come in the form

of more home improvement spending, according to Fitch Ratings in a new

report.

Fitch projects home improvement spending to increase 4.5% in 2012, with

another 4% projected for 2013. While encouraging, the numbers still lag

what the industry saw during the previous housing boom. ‘Until the both

U.S. economy and housing market improve more substantively, growth in

home improvement spending will remain stunted,’ said Director Robert

Rulla.

Nonetheless, home remodeling spending should benefit from the projected

improvement in housing turnover. Challenges, however, do remain. The

home improvement sector is still susceptible to numerous impediments

that according to Rulla, ‘could derail a sustained rebound in remodeling

spending’.

Among them are unemployment levels, which remain high, and consumer

credit standards, which continue to be tight. Consumer confidence also

remains very weak compared to past cycles.

Fitch’s latest ‘Tale of the “Measuring” Tape’ is available at www.fitchratings.com

or by clicking on the above link.

Additional information is available at www.fitchratings.com.

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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

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