AHMA Industry Confidence Index improves
The American Hardware Manufacturers Association’s AHMA Home Improvement Industry Confidence Index’s Current Situation Index improved in December to 291.7 from 208.3 in November (October 2008 = 100), while the Future Expectations Index declined slightly to 224.1 from 256.9 a month earlier.
In comparing current sales levels to year-ago levels, 70% of respondents said sales were higher in December versus year-ago levels, up from 50% in November. For December, 17% reported sales were even, and 13% said sales were below year-ago levels.
Looking forward six months, 57% of December respondents said they expect sales to be above current levels, down from 69% in November. In December, 43% of respondents said they expect sales to be even in six months and zero percent expect sales to be below current levels.
Looking forward one year, 73% of respondents project sales will be higher, down from 80% who felt that way in November. Twenty-seven percent of December respondents project sales will be even one year from now and zero percent project sales will be below current levels.
Timothy S. Farrell, President and Chief Executive Officer of the American Hardware Manufacturers Association (AHMA), said: “We are encouraged that 70% of the respondents to our December survey reported sales above year-ago levels. Together with our members, we hope that 2011 will bring a renewed focus in Washington on efforts to revive and invigorate the American economy.”
3M purchases composite maker
Building products giant 3M has agreed to purchase Nida-Core Corp., a Florida manufacturer that makes composite building materials, according to an article in the Minneapolis St. Paul Business Journal.
Nida Core also has a small French affiliate, Structiso, that 3M also is acquiring. Its products, which are used to build boats and snowboards, will help 3M build its composite and engineered materials product portfolio, according to the newspaper.
Latest group to file suit against EPA: Oil refiners
The latest suit filed against the Environmental Protection Agency over its new rule allowing the sale of E15 gasoline was filed by the National Petrochemical and Refiners Association Monday, according to the Seattle Times.
The rule allows gas stations to begin selling the ethanol fuel blend for vehicles built since 2007.
The group claims the agency does not have the authority under the Clean Air Act to approve a plan for some engines but not all.
Another group comprised of engine manufacturers filed suit against the EPA over the E15 rule in mid December.