The American Hardware Manufacturers Association’s Home Improvement Industry Confidence Index revealed mixed results in its latest version.
“While July’s survey shows a slight decline in current sales levels from June, our members continue to report historically strong sales and a high degree of confidence in future sales,” said Timothy S. Farrell, president and CEO of the American Hardware Manufacturers Association (AHMA). “Barring any unforeseen negative macroeconomic developments or dramatic disruptions to the global economy, we expect 2014 to continue to be a growth year for hardware manufacturers.”
In comparing current sales levels with year-ago levels, 77% of respondents said sales were higher in July versus year-ago levels, down from 81% in June.
For July, 18% reported sales were even, and 5% said sales were below year-ago levels.
Looking forward six months, 73% of July respondents said they expect sales to be above current levels, up from 57% in June. In July, 23% of respondents said they expect sales to be even in six months, and 5% expect sales to be below current levels.
Looking forward one year, 82% of AHMA member-respondents project sales will be higher, up from 67% who felt that way in June. Nine percent of July respondents project sales will be even one year from now and 9% project sales will be below current levels.