Canada Home Improvement

How Canada's Economic Outlook Impacts the Home Improvement Products Market

The Home Improvement Research Institute (HIRI) partnered with IHS Markit to develop the Canadian Size of the Market Estimates & Forecasts study focused on highlighting the country's economic outlook and its effect on the home improvement products market.

In general, Canada is experiencing slow and steady growth, and the home improvement products market is a direct reflection of that trend.

Highlights include:

• In 2017, home improvement product sales increased by 10.4%.
• Both the consumer and professional markets grew, exceeding expectations at 14% and 6.7% respectively.
• Home improvement product sales are forecasted to continue a trend of steady growth in 2019.
• Consumer market sales are expected to be up by at least 3.9%.
• The professional market will slow to a growth rate of 2.9%, due in part to its sensitivity to interest rates.
• Over the last five years, lawn and garden equipment and supplies and plumbing and electrical supplies have led consumer market sales.
• Major household appliances finished in a close third.
• The five-year forecast projects that these three areas will continue to be growth leaders.
• With slow growth projected in the housing market over the next few years, professional product market sales ' which rely on residential remodeling and repairs ' are expected to slow to a rate of 2.9% in 2019.

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