Photo By WoodPro Cabinetry
HACKETTSTOWN, N.J. -- The National Kitchen and Bath Association and John Burns Real Estate Consulting released the 2019 first-quarter Kitchen and Bath Market Index, indicating strong growth in the kitchen and bath sectors, and forecasting a positive outlook for the second quarter and the year as a whole.
This quarterly industry index gauges the economic pulse of the kitchen and bath market, examining current conditions and future expectations in the industry. The KBMI surveys and analyzes the sentiments of designers, manufacturers, retailers and building/construction firms who are members of the NKBA.
The KBMI’s first-quarter report found that:
The kitchen and bath industry composite index currently rates at a 71 out of 100. This reflects growth and optimism in three main components of the index: the current quarter, future market sales and overall health.
The industry is more positive on future business conditions (76 out of 100 index reading) than on current conditions (68 index reading).
The industry expects second-quarter business conditions to improve. This is especially expressed by manufacturers and building/construction companies, which are the most optimistic about quarterly sales.
The availability of skilled labor tops the list of industry challenges and concerns. The cost of materials, trade issues, economic uncertainty and consumer confidence are also significant concerns for industry professionals in the first quarter. See http://NKBA.org.
Have something to say? Share your thoughts with us in the comments below.