Home Depot Reports Decline in Sales Due to Economic Uncertainty

Higher interest rates and a shaky housing market lead to reduced consumer spending on home improvement projects.

Home Depot's second-quarter sales dropped 3.6%, with expectations of a 3-4% decline for the year.
The company's net earnings decreased by $100 million compared to the previous fiscal year.
Higher interest rates and economic uncertainty are causing consumers to defer home improvement projects.
Contractors report a significant drop in customer confidence and willingness to finance large projects.
The housing market downturn, marked by low turnover and high prices, is impacting Home Depot's sales.