The American Hardware Manufacturers Association’s AHMA Home Improvement Industry Confidence Index’s Current Situation Index improved in May to 312.5 from 308.3 in April (October 2008 = 100), while the Future Expectations Index fell to 229.3 from 239.7.
In comparing current sales levels with year-ago levels, 75% of respondents said sales were higher in May versus year-ago levels, up from 74% in April. For May, 12% reported sales were even, and 12% said sales were below year-ago levels.
Looking forward six months, 62% of May respondents said they expect sales to be above current levels, the same as in April. In May, 25% said they expect sales to be even in six months and 12% expect sales to be below current levels.
“It is encouraging that 75% of our members responding to the survey report sales levels above year-ago levels,” said Timothy Farrell, president and CEO of the American Hardware Manufacturers Association. “However, we continue to keep a close eye on the challenging economic developments in Europe and the continuing slow pace of recovery here in the U.S. as we look to the future.”