A steady recovery is gradually taking hold across most sectors of the residential construction industry, including the kitchen/bath market, the latest economic figures reveal. Among the key statistics and forecasts released by government agencies, research firms and industry-related trade associations in recent weeks were the following:

HOUSING STARTS

Despite continued gains in nationwide housing starts, the anticipated housing recovery continues to face “considerable headwinds,” including a shortage of credit for housing production “that is stifling new development in reviving markets,” the National Association of Home Builders said last month. The Washington, DC-based NAHB was, nevertheless, encouraged by the latest round of economic data, which points to growing home builder confidence and a gradual recovery. The latest indicators “signify that home builders are confident enough to begin work on homes that will be completed after the expiration of the home buyer tax credits,” noted NAHB Chief Economist David Crowe. “The solid gain in permit issuance is particularly welcome news, since those numbers are generally a reliable indicator of future building activity,” Crowe said.

PLUMBING PRODUCTS

Global demand for plumbing fixtures and fittings is forecast to increase 3.5% annually through 2013, to a total market of $66 billion, according to a new study from The Freedonia Group, a Cleveland, OH-based industry research firm. While decelerating from the 2003-2008 pace, advances will still be “quite healthy,” as worldwide building construction spending and economic activity rebound from several years of slow growth. In the U.S., building construction expenditure growth will accelerate through 2013 “because the country experienced the effects of the financial crisis at a much earlier date” than other nations, The Freedonia Group said, adding that nearly all spending gains for plumbing products will be concentrated in the residential sector.

APPLIANCE SHIPMENTS

Domestic shipments of major home appliances posted their first increase in months in April, according to the Association of Home Appliance Manufacturers. The Washington, DC-based AHAM reported last month that appliance shipments were up 12.1% in April, and 1.6% through the first four months of 2010, compared to the same periods in 2009.

Appliance shipments in a number of key categories such as cooking equipment, kitchen cleanup and food preservation all exhibited increases, AHAM reported. Cooking equipment posted gains of 13%, kitchen cleanup posted an increase of 8.3%, and food preservation posted a significant gain of 33.6% in April.