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AMERICAN HARDWARE MANUFACTURERS ASSOCIATION P.R. # AHMA10-15 FOR IMMEDIATE RELEASE July AHMA Confidence Index Shows Both Current Sales and Future Expectations Declining Manufacturers also express an 86% Disapproval Rate Regarding the Federal Government’s Handling of the Illegal Immigration Issue Schaumburg, Illinois, August 4, 2010 —The American Hardware Manufacturers Association’s AHMA Home Improvement Industry Confidence Index’s Current Situation Index declined in July to 241.7 from 283.3 in June (October 2008 = 100), while the Future Expectations Index also fell to 229.3 from 248.3 a month earlier. The Current Situation Index in June had been at an all-time high level for the monthly survey. In comparing current sales levels to year-ago levels, 58 percent of respondents said sales were higher in July versus year-ago levels, down from 68 percent in June. For July, 16 percent reported sales were even, and 26 percent said sales were below year-ago levels. Looking forward six months, 56 percent of July respondents said they expect sales to be above current levels, down from 66 percent in June. In July, 30 percent of respondents said they expect sales to be even in six months and 14 percent expect sales to be below current levels. Looking forward one year, 77 percent of respondents project sales will be higher, down from 78 percent who felt that way in June. Nineteen percent of July respondents project sales will be even one year from now and five percent project sales will be below current levels. Timothy S. Farrell, President and Chief Executive Officer of the American Hardware Manufacturers Association (AHMA), said: “This month’s AHMA Confidence Index survey results show clearly that the hardware / home improvement industry, along with the overall economy in the U.S., is still very much stalled. While we see some encouraging signs of economic growth, the overall mood remains one of caution and uncertainty concerning future prospects.” “Hot Topic” Questions The July Confidence Index survey asked two supplemental questions of AHMA members: “Do you think the recently passed Dodd-Frank Wall Street Reform and Consumer Protection Act will provide a more stable and safe financial system?” and “Do you approve or disapprove of the federal government’s handling of the illegal immigration issue?” To the first question, on the Financial Reform legislation, seven percent responded “Yes,” 51 percent responded “Not Sure,” and 42 percent responded “No.” On the federal government’s handling of illegal immigration, seven percent responded “Approve,” seven percent responded “Not Sure,” and 86 percent responded “Disapprove.”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/July2010Results 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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