Date: 29 September 2020
This report serves as an updated overview of the reports released by the association in May. New forecasts included in this update are based on projections of construction activity as of mid-September 2020, including a consensus of current economic and construction forecasts along with input from industry participants on year-to-date shipments.
“Forecasting at a time of unique economic crisis inevitably creates challenges for forward-looking market estimates. The latest report indicates significant shifts between May, the date of the previous reports, and September in the overall economic position and forecast for 2020 and beyond,” said Janice Yglesias, FGIA Executive Director.
According to the report update, changes to forecasts have been positive in the residential market as housing activity and indicators, including new housing starts, existing home sales and home improvement expenditures, have all shown strong monthly gains since May, leading to continual upward revisions of forecasts for the year.
Indicators for non-residential construction have not changed in the same way, and while there has been some moderation in expected declines for 2020, it is still seeing a much greater adverse impact from COVID-19 and will continue to be negatively impacted over the next two years, as forecasted in the report.
On October 6, a session exclusive to FGIA members during the FGIA 2020 Virtual Fall Conference will explain the methodology and forecasting of the study update. Additional and more detailed information on the residential and commercial fenestration markets is contained in the FGIA 2019/2020 Study of the U.S. Market for Windows, Doors and Skylights (originally published in May 2020), which includes the items listed below.
- FGIA U.S. Industry Channel Distribution Report profiles the residential and non-residential market for windows and doors as it flows through the identified distribution channels.
- FGIA U.S. Industry Market Size Report quantifies residential and non-residential market volumes, both historic and projected.
- FGIA U.S. Industry Regional Statistical Review and Forecasts details information on trends and product relationships.
These reports, along with this September 2020 FGIA Industry Update, are all available for purchase online from the FGIA Online Store.