Ask an Economist: Home Improvement’s 2020 Outlook

In 2019, real GDP slowed from 3.1% in the first quar­ter to 1.9% at the end of Q3. Con­sumer spend­ing is lead­ing the Unit­ed States expan­sion, sup­port­ed by gains in employ­ment, real wages and house­hold wealth. Eco­nom­ic expan­sion is expect­ed to con­tin­ue through 2020, but clear neg­a­tive forces have the poten­tial to damp­en this growth.

Pos­i­tive forces

• Employ­ment growth
• Real wage gains
• Ris­ing house­hold net worth
• Low-inter­est rates

Neg­a­tive forces

• High stu­dent debt burdens
• Auto sales correction
• Import tar­iffs

Ready to gain a deep under­stand­ing of the home improve­ment mar­ket and nation­al econ­o­my? Join HIRI to gain access to the full Size of Home Improve­ment Prod­ucts Mar­ket report and watch the webi­nar with insights and inter­pre­ta­tions from econ­o­mist Scott Hazelton.