SCHAUMBURG, IL -- The American Hardware Manufacturers Association's AHMA Home Improvement Industry Confidence Index's Current Situation Index improved in August to 229.2 from 225 in July, while the Future Expectations Index was unchanged at 193.1.
In comparing current sales levels to year-ago levels, 55 percent of respondents said sales were higher in August versus year-ago levels, up from 54 percent in July. For August, 10 percent reported sales were even, and 34 percent said sales were below year-ago levels.
Looking forward six months, 48 percent of August respondents said they expect sales to be above current levels, up from 44 percent in July. In August, 38 percent of respondents said they expect sales to be even in six months and 14 percent expect sales to be below current levels.
Looking forward one year, 64 percent of respondents project sales will be higher, down from 68 percent who felt that way in July. Thirty-two percent of August respondents project sales will be even one year from now and four percent project sales will be below current levels.
Timothy S. Farrell, President and Chief Executive Officer of the American Hardware Manufacturers Association (AHMA), said: "While it is encouraging that our members are reporting slightly improved sales levels compared to last year, we remain unsatisfied with the rate of progress in the overall economy. Until confidence is restored in the future of the U.S. economy, we suspect businesses will continue to be very cautious when considering investments going forward."