Subscribe to our newsletters & stay updated
The National Kitchen & Bath Association (NKBA) has released its Kitchen & Bath Market Index (KBMI) for Q2 of 2022. The quarterly report, which assesses the overall health of the kitchen and bath industry, indicates that the sector is seeing signs of a cooldown, with industry leaders anticipating decelerated growth through the rest of the year.
Key takeaways from the report include the following:
Statistics from the Q2 Kitchen & Bath Market Index show the following:
Kitchen and bath industry professionals say demand is steady but there are early signals the market is cooling. As reported in the KBMI, ratings above 50 indicate industry growth, while ratings below 50 indicate slowing activity. The overall KBMI for Q2 was 70.4, the lowest it has been since Q4 2020. The report findings also rated future business conditions at 61.8 on a 100-point scale. This remains well above the midpoint, but down from 78.6 in Q1, demonstrating heightened concern about the year ahead.
"While it's encouraging to see some initial signs of easing in supply chain and inventory concerns, it's clear that macro-economic volatility is having some initial impact on demand," said Bill Darcy, CEO, NKBA. "This is an industry that has consistently adapted to rapidly changing circumstances over the course of the past two and a half years. There is understandable concern around inflation and interest rates and the potential impact on the industry, but the industry outlook on future business conditions indicates there is still cautious confidence in the ability to navigate a path forward."
To request the full report, contact Brittany Loeffler at firstname.lastname@example.org.
© 2023 All Rights Reserved