Hardwood Floors Oct/Nov 2019

INDUSTRY

Construction and remodeling markets across the country REMAIN STRONG

Of those, half expect demand to grow by 3 percent to 7 percent, while just over 14 percent expect sizeable growth of more than 8 percent. However, a greater number of respondents were pessimistic about the next year than in recent years’ surveys. Nearly a quarter said they expected sales to be down, either somewhat or significantly in 2020 compared with 2019. In 2018, just 9 percent said the same about 2019. The shift seems in line with other national surveys that indicate a slight slowdown in spending on items like flooring. The Leading Indicator of Remodeling Activity (LIRA), released

NWFA members expect 2019’s robust market to continue into 2020. A sizeable majority – more than 64 percent – of manufacturers, distributors, retailers, and contractors who responded to the association’s annual outlook survey forecast that demand for wood flooring will increase in 2020.

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