An economic outlook report released Thursday for members of the North American Building Material Distribution Association (NBMDA) points to positive trends.
The NBMDA & NAFCD Economic Outlook Report describes the macroeconomic climate as "positive," but growth is expected to slow in the second half of 2011 and into 2012. (NAFCD is the North American Association of Floor Covering Distributors.)
Housing starts are in recovery mode, according to the financial outlook, created by the Institute for Trend Research. The 2011 forecast calls for a 1.9% decline, followed by a 4.2% gain in 2012, and a 3.8% gain in 2013.
According to the report, the housing and nonresidential construction industries can at best expect a mild recovery into 2012. The report stated: "It will take a long time for these markets to fully recover from this recession. Significant recovery for this market is not likely until 2013 and beyond."