 The newly launched AHMA Home Improvement Industry Confidence Index plummeted in November, with the Current Situation Index falling 37.5 points to 62.5 and the Future Expectations Index declining 24.1 points to 75.9.
In comparing current sales levels to year-ago levels, 15 percent of respondents said sales were higher in November, compared with 24 percent in October. For November, 22 percent reported sales were even, and 64 percent said sales were below year-ago levels.
Looking forward six months, 16 percent of November respondents said they expect sales to be above current levels, versus 15 percent who felt that way in October. In November, 30 percent of respondents said they expect sales to be even in six months and 54 percent expect sales to be below current levels.
Looking forward one year, 28 percent of respondents project sales will be higher, down from 42 percent who felt that way in October. Forty-four percent of November respondents project sales will be even one year from now and 29 percent project sales will be below current levels.
Timothy S. Farrell, President and CEO of the American Hardware Manufacturers Association (AHMA), said, “Given the current uncertainty in the financial sector, and the accompanying decline in consumer confidence, many of our members are reporting a slowdown in current sales levels and a lack of confidence in the prospects for a turnaround in the near future, and this month’s Index accurately reflects those sentiments.”
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