By all accounts, 2018 was a great year as far as the U.S. economy was concerned. Sales of HVAC equipment remained strong, the unemployment rate stayed below 4 percent, and the gross domestic product (GDP) increased at an annual rate of 3.4 percent in the third quarter (4.2 percent in the second quarter).
But some analysts believe the economy may soften in 2019, as housing starts slow down, interest rates rise, and existing home sales decrease. This may mean fewer remodeling opportunities, or it could result in consumers deciding to stay put and investing in their current homes and businesses. That would be good news for HVAC contractors.