SCHAUMBURG, IL -- The American Hardware Manufacturers Association's AHMA Home Improvement Industry Confidence Index's Current Situation Index improved in February to 270.8 from 237.5 in January (February 2008 = 100), while the Future Expectations Index also increased to 229.3 from 218.9.
In comparing current sales levels to year-ago levels, 65 percent of respondents said sales were higher in February versus year-ago levels, up from 57 percent in January. For February, 26 percent reported sales were even, and nine percent said sales were below year-ago levels.
Looking forward six months, 68 percent of February respondents said they expect sales to be above current levels, up from 57 percent in January. In February, 23 percent of respondents said they expect sales to be even in six months and nine percent expect sales to be below current levels.
Looking forward one year, 65 percent of respondents project sales will be higher, down from 70 percent who felt that way in January. Twenty-six percent of February respondents project sales will be even one year from now and nine percent project sales will be below current levels.
Timothy S. Farrell, President and Chief Executive Officer of the American Hardware Manufacturers Association (AHMA), said: "We are encouraged by the continued improvement in current sales levels reported by our members. Along with our members, however, we remain vigilant and cautious as we keep a concerned eye on rising energy costs and the possible negative impact of pending Federal environmental and health regulations."