NAW Economic Forecast 2004 has a relatively bullish outlook for commercial and industrial markets that are key to PVF firms. Compiled by Pembroke Consulting in conjunction with economists Mark Zandi and Frank Markey of Economy.com, the forecast predicts revenue growth of 4.7% overall for plumbing and HVAC distributors, but notes that “the outlook for commercial and industrial construction is positive - a good sign for distributors in those markets.”
The authors forecast residential construction to drop 3% as housing takes a breather from its sizzling pace of recent years, but that “commercial, office and industrial construction will rebound.”