Annual gains in home improvement and repair are projected to continue decelerating through early next year, according to the Leading Indicator of Remodeling Activity (LIRA) released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.
Retail sales in March were up and the growth has buoyed optimism that consumers will continue spending in the months ahead.
U.S. retail sales growth through the early part of the year remained solid as February saw year-over-year gains, the National Retail Federation said.
Following a solid holiday season, retail sales in January were up 3.6% year-over-year, according to figures from the National Retail Federation.
White House plans to increase tariffs from 10% to 25% on $200 billion of products made in China have been delayed, President Donald Trump said, citing “substantial progress” in talks between the United States and China.
The National Retail Federation blamed lower than expected holiday sales gains on “clearly avoidable actions by the government.”
Despite issues including the U.S./China trade war, a volatile stock market and the effects of the government shutdown, the NRF is forecasting sales to increase between 3.8% and 4.4%.
January retail industry employment fell by 15,100 jobs unadjusted from a year earlier but increased 14,800 jobs seasonally adjusted from December, according to the National Retail Federation.
Annual growth in the national market for home improvement and repair is expected to slow by the end of the year, according to the Leading Indicator of Remodeling Activity (LIRA) released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.
According to a University of Michigan survey, consumer sentiment in the U.S. slipped during early January, with the decline primarily focused on prospects for the domestic economy.
Consumer confidence levels were down for a second consecutive month as concerns grew over a slowdown in economic growth during the first quarter of 2019, officials with The Conference Board said.
American consumers were out shopping during the holidays with their wallets open as sales during the festive period saw their highest increase in six years.
The Trump Administration has delayed the scheduled 25% tariff on $200 billion worth of goods manufactured in China that was set to begin January 1.
An estimated 164 million people are planning to shop Thanksgiving Day through Cyber Monday, according to a survey from the National Retail Federation and Prosper Insights & Analytics.
With the holidays approaching, consumers have not slowed their spending in October as retail sales for the month were up 5.6% year-over-year, according to the National Retail Federation.
Moody’s Investors Service has changed its outlook for the retail industry in the U.S. to positive from stable.
Consumers said they will spend an average of $1,007.24 during the holiday season this year, up 4.1% from the $967.13 they said they would spend last year, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics.
After several years of solid acceleration, annual growth in the national home improvement and repair spending sector of the economy is expected to soften in 2019, according to the Harvard University Joint Center for Housing Studies.
Imports at the nation’s major retail container ports are expected to remain at near-record levels in October despite a new round of tariffs that took effect in September, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.
Year-over-year retail sales in September were up 3% as general merchandise stores and electronics and appliance stores reported strong gains in the year’s ninth month, according to the National Retail Federation.