CHICAGO–(BUSINESS WIRE)–Link to Fitch Ratings’ Report: The Tale of the “Measuring” Tape: U.S.
Home Improvement Industry
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
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
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
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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Rating: 4 out of 5