ASA Chief Economist Chris Kuehl is back Wednesday, Jan. 18 at 2 p.m. Eastern/1 p.m. Central with his first ASA economic update webinar of the year, taking a look at the 2022 forecast.
“As we enter into 2022,” — when you say that out loud it sounds a lot like “2020-2.” Don’t be alarmed, I believe things are moving in a positive direction. I have laid out trends that I see as important factors moving into the new year. I am not going to prognosticate about where the stock market is going, but rather about what I feel is going to be the most important factors impacting supply houses across the country.
After enduring a unique set of challenges through 2020 and 2021, industry experts are excited to move forward into another high-demand year. The excitement is coupled with caution, as supply chain constraints, material pricing and labor shortages are not expected to resolve themselves in the near future.
The National Kitchen & Bath Association (NKBA) and John Burns Real Estate Consulting (JBREC) released its quarterly Kitchen & Bath Market Index (KBMI) for the second quarter of 2021. With estimates showing an 11% growth in sales for Q2 vs. Q1, the report suggests continued growth in the Kitchen and Bath market, despite ongoing material shortages and rising labor costs.
Revised 2021 outlook shows sales up more than 20%.
July 12, 2021
In its July update to the Kitchen & Bath Market Outlook, the National Kitchen & Bath Association (NKBA) revised its 2021 industry sales projection upward to $170.9 billion, up by a substantial 21.4% from 2020’s $140.8 billion in kitchen and bath spending and nearly 8% higher than the initial estimate for the year.
During a webinar in late May, Dr. Kuehl gave his mid-year economic review, focusing on five key issues distributors should be monitoring: Inflation, consumer behavior, “normal” business, the global economy and market reaction.
ASA Chief Economist Dr. Chris Kuehl is back with his May economic update webinar for ASA members. This time, Dr. Kuehl will provide a mid-year review and take stock of the 2021 economy.