Connect with us

Hi, what are you looking for?

Editor's Pick

Signs point up for small manufacturers, home remodelers

NEW YORK — Recent economic indicators point to an easier time ahead for small manufacturers and companies in the home remodeling industry.

A decline in the home repair and remodeling market that began in the first quarter of 2019 is projected to end with the third quarter of this year, according to researchers at Harvard University’s Joint Center for Housing Studies. The centre forecasts fourth-quarter spending on repairs and renovations will rise 1.5% from year-earlier levels.

Researchers consider several economic indicators in arriving at their forecasts, including sales of existing homes, new housing starts and sales of building materials. Homeowners tend to do renovations and repairs before or after buying or selling a home, even if they’re buying a recently built home. And many companies that do home remodeling and repair are small businesses or general contractors who work solo.

Although new home sales have been weak — they fell 1.7% in November, according to the National Association of Realtors — builders are putting up more single-family homes. The Commerce Department reported housing starts rose 13.6% in November from a year earlier, and the number of building permits issued rose 11.1%.

Meanwhile, a monthly report from the Institute for Supply Management pointed to a possible end to a decline in manufacturing that brought the industry’s activity to its lowest point since the official end of the Great Recession in June 2009. The ISM, a trade group for corporate purchasing executives, said its manufacturing index fell to 47 in December from 48.1 in November, a reading that indicates manufacturing is shrinking. However, the group, whose members include small businesses, said there are positive signs including higher prices.

“We’ve probably seen the worst of it behind us,” said Tim Fiore, chair of the ISM’s manufacturing business survey committee.

Manufacturers have been hurt by a slowdown in economic growth around the world and a drop in demand in the U.S. The Trump administration’s tariffs on products from China and other countries has increased prices for raw materials and components and U.S. trading partners have retaliated, making it harder for American manufacturers to sell their products overseas.


Follow Joyce Rosenberg at Her work can be found here:

Joyce M. Rosenberg, The Associated Press

The post Signs point up for small manufacturers, home remodelers appeared first on Canadian Business – Your Source For Business News.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



By Keisha B. Ta-asan, Reporter PHILIPPINE BANKS will continue to see improved profits this year, supported by better margins following the central bank’s rate...


THE PHILIPPINE government’s move to grant value-added tax (VAT) refunds for foreign tourists is expected to boost the tourism industry’s recovery from the coronavirus...


By Luisa Maria Jacinta C. Jocson, Reporter THE GOVERNMENT should diversify its major growth drivers to rely less on consumption as household spending is...


By Arjay L. Balinbin, Senior Reporter SMEC Philippines, Inc., a unit of Singaporean infrastructure and urban development consultancy company Surbana Jurong Group, said it...


THE Securities and Exchange Commission (SEC) warned the public against putting money in three entities, which are soliciting investments without first securing a license....


DMCI Holdings, Inc. and Union Bank of the Philippines are seen to improve their liquidity and stock valuation after their re-entry to the Philippine...

You May Also Like


Browsing history makes referring to sites and pages you’ve visited in the past seamless. It’ll help you recall what page you checked out on...


The minute that any question pops into your head, you can simply ask Google. No longer do we have to pour over books and...


Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...


Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.