SCHAUMBURG, IL -- The American Hardware Manufacturers Association's AHMA Home Improvement Industry Confidence Index's Current Situation Index declined in April to 308.3 from an all-time high of 350.0 in March (April 2008 = 100), while the Future Expectations Index also fell to 239.7 from 298.3.
In comparing current sales levels to year-ago levels, 74 percent of respondents said sales were higher in April versus year-ago levels, down from 84 percent in March. For April, four percent reported sales were even, and 22 percent said sales were below year-ago levels.
Looking forward six months, 62 percent of April respondents said they expect sales to be above current levels, down from 84 percent in March. In April, 35 percent of respondents said they expect sales to be even in six months and four percent expect sales to be below current levels.
Looking forward one year, 77 percent of respondents project sales will be higher, down from 89 percent who felt that way in March. Fifteen percent of April respondents project sales will be even one year from now and eight percent project sales will be below current levels.
Timothy S. Farrell, President and Chief Executive Officer of the American Hardware Manufacturers Association (AHMA), said: "Our members continue to report current sales levels better than year-ago levels, indicating that the economy is moving in the right direction. However, with important segments of our industry still struggling, such as housing with new home sales at around 300,000 units per year versus over 700,000 units in 2008, it is obvious that we still have a long way to go before we can enjoy the benefits of operating in a truly dynamic economic environment."