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As editor in chief of Professional Remodeler, a lot of information crosses my desk. This blog will be a chance to share some of that with you, with an immediacy not possible with a monthly magazine. It's also your chance to tell me what you think about what I have to say. Whether you agree or disagree, I hope you won't be shy. Post here, write me at jonathan.sweet@reedbusiness.com or you can also follow me on Twitter at www.twitter.com/sweetedit.
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Tuesday, October 27, 2009
Consumer Confidence Drops
Oct 27 2009 8:46AM | Permalink | Email this | Comments (0) |
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By Jonathan Sweet
The nearly six-point drop from 53.4 to 47.7 was steeper than most economists expected, but doesn't strike me as particularly surprising. All it shows is that people are paying a lot more attention to the unemployment numbers than to the recent run-up in the stock market. Clearly, the Wall Street recovery hasn't helped the rest of the country yet.
And that's bad news for remodelers, as you all know. Consumer confidence is probably the most important economic indicator for the remodeling market, even more so than home prices. Our recent survey of remodelers showed that they felt an increase in consumer confidence was the key to their company recovering.
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