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AMERICAN HARDWARE MANUFACTURERS ASSOCIATION P.R. # AHMA10-08 FOR IMMEDIATE RELEASE February AHMA Confidence Index Shows Current Sales Levels Rising, Expectations for Future Sales Steady Survey Also Finds Manufacturers Feel Health Summit Was Political Posturing and that Last Year’s Economic Stimulus Bill Has Been Ineffective in Creating Jobs and Stimulating the Economy Schaumburg, Illinois, March 3, 2010 —The American Hardware Manufacturers Association’s AHMA Home Improvement Industry Confidence Index’s Current Situation Index improved significantly in February to 162.5 from 100 in January (October 2008 = 100), while the Future Expectations Index remained unchanged at 229.3. In comparing current sales levels to year-ago levels, 39 percent of respondents said sales were higher in February versus year-ago levels, up from 24 percent in January. For February, 27 percent reported sales were even, and 33 percent said sales were below year-ago levels. Looking forward six months, 57 percent of February respondents said they expect sales to be above current levels, down from 61 percent in January. In February, 39 percent of respondents said they expect sales to be even in six months and just 4 percent expect sales to be below current levels. Looking forward one year, 76 percent of respondents project sales will be higher, up from 72 percent who felt that way in January. Twenty-two percent of February respondents project sales will be even one year from now and two percent project sales will be below current levels. Timothy S. Farrell, President and Chief Executive Officer of the American Hardware Manufacturers Association (AHMA), said: “For the past three months our members’ sales have been improving versus year-ago levels. Still, however, the industry continues to struggle against a number of negative macroeconomic trends making it extremely difficult to operate at the levels we would like to see.” “Hot Topic” Questions The February Confidence Index survey asked two supplemental questions of AHMA members: “Do you think the upcoming Blair House summit on health care is a true attempt to find bipartisan solutions, or is it political posturing, especially given reports that the President is preparing ‘reconciliation’ legislation that could be attached to a budget bill?” and “Last week marked the first anniversary of the $787 billion economic stimulus bill. Do you feel the bill has been a success in stimulating the economy and creating jobs?” To the first question, on the Health Reform Summit, eight percent responded “True attempt,” 22 percent responded “Not sure,” and 70 percent responded “Political posturing.” On their opinion of the effectiveness of the $787 billion economic stimulus bill, 12 percent responded “Yes,” eight percent responded “Not Sure,” and 80 percent responded “No.” About the AHMA Home Improvement Industry Confidence Index The AHMA Home Improvement Industry Confidence Index is a monthly indicator of the economic health and “mood” of the industry based on a survey of AHMA members. The data collected from the survey produces two Indexes indicating: 1) Current Situation and 2) Future Expectations. Both Indexes use survey data from October 2008 as the base reference point so that October 2008 = 100. The AHMA Home Improvement Industry Confidence Index results are released on the first Wednesday of every month. Results of the Index survey are viewable online here: http://www.ahma.org/ConfidenceIndex/February2010Results About the American Hardware Manufacturers Association (AHMA) AHMA is a globally focused trade association of manufacturers, or providers, of hardware, home improvement, lawn and garden, paint and decorating, building and construction and related products, as well as manufacturers’ representative’s agencies and trade publications. AHMA offers many valuable member and industry programs, services and activities including the AHMA Hardlines Technology Forum, AHMA / USA International Pavilions, AHMA Advantage GPO, the AHMA eAGLE, The Hard Fax: Home Improvement Industry News, The Hard Fax International: Home Improvement Industry News from Around the World, the AHMA Home Improvement Industry Confidence Index, the AHMA Home Improvement Industry Dashboard, Government Relations Programs, Member Benefit Vendor Programs, the AHMA Hardware Industry Relief Effort (HIRE) and the AHMA / Habitat for Humanity Partnership. For more information about AHMA, please visit www.ahma.org. ### |
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