Items Tagged with 'economic outlook'

As 2023 comes to a close it is now time to review my predictions from last year as well as predict ten more trends I see as we enter 2024.

Sponsored by PHCC Strategic Partner Bradford White, the PHCC CCI is based on a quarterly survey of PHCC members designed to take the pulse of the plumbing, heating, and cooling market.

The home services industry began 2022 with strong growth due to the home renovation trends from the previous year; however, factors such as rising material costs, labor shortages and inflation resulted in a slight decline in new work being scheduled in Q2 and Q3, according to Jobber’s Q3 Home Service Economic Report.

You are a dealer in hope when you give your customer a sense of optimism by anticipating their fear, tackling their needs while offering great value and meeting their concerns on their terms.

After the past two years, the entire world — plumbing industry included — is waiting for things to return to normal. This past year gave us some normalcy with a return of in-person meetings and events; however, with this latest spike in COVID-19 cases and the continuing supply chain issues and rising material costs, normal may be a bit further away than we hope.

December has always been my favorite month of the year. And it’s not just because it’s my birthday month! It’s also not because of the holidays — though I do enjoy spending time celebrating with family and friends. 

On New Year’s Eve, 2020, many plumbers toasted the end to the unpredictable year. Everyone looked forward to a return to normality in 2021. Uh, yeah. So, what about 2022? Here are 11 predictions for the next year.

A contractor sentiment survey conducted by PHCC finds that 84% of respondents rank the continuing impact of COVID-19 on their businesses as having either a “low” or “medium” impact compared to 57% in spring 2020.