The American Hardware Manufacturers Association’s measure of industry confidence held steady in May across a variety of metrics.
In comparing current sales levels to year-ago levels, 77% of respondents said sales were higher in May versus year-ago levels, the same as in April. For May, 18% reported sales were even, and five percent said sales were below year-ago levels.
“It is encouraging that May’s survey shows 77% of respondents reporting sales higher than year-ago levels, maintaining the high level attained in April,” said Timothy S. Farrell, president and CEO of the AHMA. “Barring unforeseen negative macroeconomic developments, we expect 2014 to continue to be a strong year for the home improvement industry.”
Looking forward six months, 81 percent of May respondents said they expect sales to be above current levels, up from 57 percent in April. In May, 19 percent of respondents said they expect sales to be even in six months and zero percent expect sales to be below current levels.