SCHAUMBURG, IL -- The American Hardware Manufacturers Association's AHMA Home Improvement Industry Confidence Index's Current Situation Index declined in September to 250 from 279.2 in August, while the Future Expectations Index also fell to 189.7 from 212.1.
In comparing current sales levels to year-ago levels, 60 percent of respondents said sales were higher in September versus year-ago levels, down from 67 percent in August. For September, 25 percent reported sales were even, and 15 percent said sales were below year-ago levels.
Looking forward six months, 55 percent of September respondents said they expect sales to be above current levels, down from 56 percent in August. In September, 25 percent of respondents said they expect sales to be even in six months and 20 percent expect sales to be below current levels.
Looking forward one year, 55 percent of respondents project sales will be higher, down from 67 percent who felt that way in August. Thirty-five percent of September respondents project sales will be even one year from now and 10 percent project sales will be below current levels.
Timothy S. Farrell, President and Chief Executive Officer of the American Hardware Manufacturers Association (AHMA), said: "As we enter the final quarter of the year, most of our members continue to report year-over-year sales increases despite the very challenging economic climate. Looking forward, we expect challenges to continue well into 2013 but we also expect hardware manufacturers will meet the challenge and will be well positioned for more robust growth when the overall economy improves."