Looking ahead to modest growth

Orlando, Fla. -- The Home Improvement Research Institute’s Spring Conference included a mixed message for future home improvement spending. 

In a presentation from James Gillula, managing director of consulting services for IHS Global Insights, one of the takeaways was an expectation of modest growth for consumer spending in 2013. 

“There is a lot of hope that we’ll get to a point where we’ll have a little faster economic acceleration,” Gillula said. “And certainly the idea that there should be a lot of pent-up demand out there is relevant for home improvement products market.“

One of the key slides from Gillula's “Outlook for the U.S. Economy and Home Improvement Spending” presentation looked at the nominal dollar and constant dollar market forecast. The forecast varied depending on whether the sales forecast was measured in nominal dollars or constant prices. 

Nominally, the home improvement product market forecast called fo