The Federal Reserve kept its rates unchanged as it waits for information on how tariffs and other economic disruptions will affect the economy. The Fed still expects to cut rates twice this year, as growth slows and unemployment increases. In …
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Home Improvement Market Growth Slows Amid Economic Headwinds
The total home improvement market is projected to grow 3.4% in 2025, a reduction from the 5% growth projected in the Home Improvement Research Institute’s (HIRI) June outlook. HIRI announced findings from its latest U.S. Size of the Home Improvement …
Read More »Fed Cuts Interest Rates in Third Straight Meeting
The Federal Reserve cut interest rates for its third straight meeting, this time by 25 basis points to 4.25%-4.50%. It also issued projections calling for two quarter-point interest rate cuts in 2025 amid rising inflation. Members of the committee say …
Read More »How Housing Could Lead an Economic Rebound
As news hit that the U.S. gross domestic product—a measurement of the production of goods and services—contracted 32.9 percent in the second quarter of 2020, the National Association of Home Builders (NAHB) reports housing could be on the frontlines of …
Read More »U.S. Unemployment Rate Falls to 13.3% in May
The Bureau of Labor Statistics (BLS) released a report Friday showing the U.S. economy gained 2.5 million jobs in May, bringing the U.S. unemployment rate to 13.3 percent for the month, lower than April’s unemployment rate of 14.7 percent. Friday’s …
Read More »WATCH: Uncover the $100,000 Difference for Your Business
More than ever, understanding your business’s financial health from every angle is vital. For more than a century, home improvement operators have counted on the annual Cost of Doing Business Study to discover every facet of their operation’s finances. The …
Read More »U.S. Retail Sales Fall Record 16% in April
U.S. retail sales fell 16.4 percent from March to April, as many cities and states enacted stay-at-home orders to stem the spread of COVID-19 in the country. The 16 percent drop seen in April nearly doubles the sales slowdown seen …
Read More »U.S. Unemployment Rate Hits 14.7%
The U.S. economy lost 20.5 million jobs in April, as many businesses either curtailed service or closed their doors indefinitely amid COVID-19. The decline in jobs is the largest since the government began recording employment data in 1939, reports CNN. …
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