A monthly American Hardware Manufacturers Association (AHMA) survey suggests sales are up across the membership.
In comparing current sales levels with year-ago levels, 67% of respondents said sales were higher in May versus year-ago levels, up from 56% in April. For May, 19% reported sales were even, and 14% said sales were below year-ago levels.
“Improving consumer confidence, a rebounding housing market and stability in the employment situation are combining to fuel higher sales for home improvement industry manufacturers,” said Tim Farrell, president and CEO of the Schaumburg, Ill.-based AHMA. “But the potential for even better sales still exists if the overall economic situation in the country begins to show stronger signs of sustainable growth.”
Looking forward six months, 62% of May respondents said they expect sales to be above current levels, up from 56% in April. In May, 29% of respondents said they expect sales to be even in six months, and 9% expect sales to be below current levels.