SCHAUMBURG, IL -- The American Hardware Manufacturers Association's AHMA Home Improvement Industry Confidence Index's Current Situation Index declined in November to 208.3 from 216.7 in October, while the Future Expectations Index increased to 256.9 from 208.6 a month earlier.
In comparing current sales levels to year-ago levels, 50 percent of respondents said sales were higher in November versus year-ago levels, down from 52 percent in October. For November, 28 percent reported sales were even, and 22 percent said sales were below year-ago levels.
Looking forward six months, 69 percent of November respondents said they expect sales to be above current levels, up from 52 percent in October. In November, 28 percent of respondents said they expect sales to be even in six months and three percent expect sales to be below current levels.
Looking forward one year, 80 percent of respondents project sales will be higher, up from 69 percent who felt that way in October. Twenty percent of November respondents project sales will be even one year from now and zero percent project sales will be below current levels.
Timothy S. Farrell, President and Chief Executive Officer of the American Hardware Manufacturers Association (AHMA), said: "With 80 percent of our members predicting higher sales looking ahead one year, and 50 percent reporting current sales higher than year-ago levels, there is reason for guarded optimism within our industry. However, with unemployment at 9.8 percent, logic would dictate that any full recovery for the economy as a whole, and the home improvement industry in particular, remains a very tenuous prospect."