HIRI Conference: The Economic Outlook For Home Improvement
Home improvement product sales are expected to grow by 7.6% in 2004. However, that sales growth will drop to 2.3% in 2005 and slowly rebuild to 5.5% in 2007, according to research by consulting firm Global Insight. Jim Gillula, managing director of consulting at Global Insight, discussed the research results at the spring meeting of the Home Improvement Research Institute in Washington, D.C. in April.
He pointed to “incredible similarities” between the 1990 recession and current economic conditions.