From Home Furnishing Business
FastFact: Growth from Under 5 Set to Impact Other Segments
Last week’s FastFact zeroed in on the under 5 age group of the population with its predicted explosion of the next few years.
Following right behind that age group, come kids between the ages of 5 and 9. That segment is expected to increase by 2.1 percent in the next 10 years to an estimated 20.9 million thanks to the booming under 5 group graduating into the group.
The 10-13 age segment will likely remain flat through 2025 with a slight peak by 2020. The next segment—the 14 to 17 group—is forecasted to drop 0.4 percent in 2020 and another 0.3 percent by 2025.
The sloping population trends in the two older youth segments is due to slowing birth rates in the past five years during the recession and the mass of Baby Boomers’ grandchildren not yet reaching their teens. Between 2025 and 2035, these groups are expected to bounce back with a 4 percent growth.
The complete FastFact can be found online.