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.