The American Hardware Manufacturers Association’s AHMA Home Improvement Industry Confidence Index’s Current Situation Index improved in November to 266.7 from 262.5 in October (November 2008 = 100), while the Future Expectations Index also improved to 262.1 from 236.2.
In comparing current sales levels with year-ago levels, 64% of respondents said sales were higher in November versus year-ago levels, up from 63% in October. For November, 12% reported sales were even, and 24% said sales were below year-ago levels.
Looking forward six months, 76% of November respondents said they expect sales to be above current levels, up from 60% in October. In November, 16% of respondents said they expect sales to be even in six months, and 8% expect sales to be below current levels.
Looking forward one year, 76% of respondents projected sales will be higher, down from 79% who felt that way in October. Sixteen percent of November respondents projected sales will be even one year from now, and 8% projected sales will be below current levels.
Timothy Farrell, president and CEO of the AHMA, said: “It is encouraging to see, for the fifth consecutive month, that our members are reporting higher sales than the preceding month. We also see progress in other economic indicators, such as unemployment and housing sales. While these signs of improvement are consoling, we remain dissatisfied with the rate at which economic recovery is occurring and would hope for accelerated growth going forward.”