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As homeowners are confined to their homes, many are using their idle time to complete or plan home renovation projects. A recent survey found that updated kitchens, home gyms, and expanded living spaces were at the top of many homeowners' wishlists and almost a third had taken steps to complete some type of home improvement project on their own. In addition to kitchens, outdoor spaces are receiving a lot of attention during the pandemic. According to Cleveland-based research organization The Freedonia Group, decking sales have been positive during the coronaivrus (COVID-19) pandemic.

Decking manufacturer Trex reported first quarter sales greatly exceeded expectations given the current economic situation and public health crisis. Sales were positive in part due to homeowners in lockdown using their time to complete home renovations, particularly smaller-scale projects that are easier to DIY. The Freedonia Group previously reported that homeowners were DIY-ing kitchen and bathroom remodels, painting and reflooring projects, and outdoor living projects while sheltering-in-place. Retail sales during COVID-19 were above comparable levels a year ago in categories including paint and wallpaper, luxury vinyl tile, laminate flooring, decorative flooring, and outdoor furniture and grills.

The Freedonia Group is also finding as vacations and other summer plans remain up in the air due to the uncertainty surrounding the timing of shelter-in-place orders, decking manufacturers are likely to benefit. Consumers bound to their homes are likely to prepare their outdoor areas to provide summer entertainment and relaxation, even while isolated. The Freedonia Group projects demand for decking will exceed $7 billion by 2023.

The Freedonia Group's COVID-19 Economic Impact Tracker is keeping tabs on the impact of the global health pandemic and what it means in several product markets, including cabinets, countertops, outdoor furniture and grills, plumbing fixtures, and outdoor kitchens.

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