The DIY market is shrinking

The Home Improvement Retail Institute (HIRI) forecasts that DIY sales in the USA will decline by 6.4 per cent to US$ 272 bn this year. This represents a revision of the institute’s estimate from 2008, when it forecast a decline of 4.8 per cent. The organisation is of the opinion that the government’s economic stimulation package is “too small and too slow” to ensure that sales make a rapid recovery. Sales are expected to increase again from next year. The HIRI forecasts 6.9 per cent growth for 2010, and 12 per cent for 2011.