Kitchen, Bath Market See Strong Improvement

After two consecutive quarters of contraction, ratings for each of four key industry metrics of the kitchen and bath markets show improvement, including current and future conditions, says the third quarter ‘NKBA/John Burns Kitchen & Bath Market Index’ (KBMI). The markets saw a continuation and, in some cases, an acceleration, of the positive trends seen in second quarter. The overall KBMI registered a rating of 61.9 out of 100, which puts it into expansion territory after having contracted in the previous two quarters. It was a strong leap forward from the 44.2 rating in the last quarter. The ‘Health of the Industry’ continued to show improvement as well. It had a rating of 6.9 out of 10, placing it well within the ‘strong’ range. This exceeded the 5.9 from the previous quarter and even edged out the 6.7 from the third quarter of 2019, prior to the pandemic coming onto the scene. The third key metric, current conditions, came in at 56.5. Since 50 is considered in line with the previous quarter, anything above that level means conditions are moving in the right direction. The last of the four industry metrics covers expected future performance. Again, scores above 50 equate with optimism. The third quarter rating was 66.9, squarely in the positive zone. This compares with a 61.9 in the second quarter. The rating in the first quarter, based on survey responses during the early phases of the pandemic, was a dismal 19.8.