The floral manufacture is expected to benefit from an anticipated striking free fall in pastime rates and the free burning demand for flowers and potted plants , according to Dr. Charlie Hall , Chief Economist for American Hort and Professor at Texas A&M University . Dr. Hall deal these economic perceptiveness during the Insights & Connections : Economic Outlook for the Floral Industry event , hosted by AFIF : Americas Flower Connection on September 10th in Miami .
Economic Trends Favorable for the Floral IndustryIn his speech , Dr. Hall highlighted the upcoming reduction in interest rates in the United States and its stimulatory effect on the economy . " We ’re going to see a spectacular step-down in interest rates and mortgage rates in 2025 , which will perk up the economy somewhat conveniently , " suppose Dr. Hall .
This plus forecast comes at a fourth dimension when inflation is stabilizing in Colombia , a head supplier of flower to the U.S. market . Dr. Hall mention that inflation in Colombia is decrease quicker than expected , and while the Colombian Mexican peso has experienced excitableness , he expect gradual stabilisation . This stabilisation will provide more predictability and monetary value control for U.S. business concern that rely on Colombian prime import , offering a more inviolable operating environment for the floral industry .
Strong Consumer Demand for Flowers During Economic DownturnsDr . Hall also address a long - stand trend in flowered white plague patterns . " In every single economic downturn since 1948 , we ’ve seen a capitulum in the ingestion of flowers and potted plants , " he explained . While these spike typically return to pre - crisis levels as the economic system reclaim , the recent COVID-19 - induct gain in floral consumption has plateaued rather than decreased .
Dr. Hall pointed out that it ’s uncertain whether this plateau is driven by an increase in the number of flowers and works sold , rising prices , or a combination of both . " This meter , [ consumption ] has decelerate down , it has plateaued but it has not dropped " he noted .
These penetration highlight the resilience of demand for flowers and potted plant life , despite uncertain economical times .
Event Recap and Industry OutlookAFIF ’s Insights & Connections event , brought together diligence leaders to research the key economical gene shaping the flowered industry in 2024 and beyond . Attendees had the opportunity to web and commute ideas , while Dr. Hall ’s presentation tender crucial insights into how the economy is affecting both the domestic and international flowered markets .
AFIF President Rodrigo Leiva , commented , " Dr. Hall ’s insights give our industriousness a decipherable apprehension of the economical trend mold our businesses . The give-and-take and connections from this event will undoubtedly influence how the importing cut flower industry voyage the months ahead . "
For more entropy : America ’s Flower Connectionafifnet.org
