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Furniture Buying Index Continues Upward Swing
May 9,
2010 by in UnCategorized 
By Home Furnishings Business in economic news on May 10, 2010
The Furniture Buying Index, tracked by
America's Research Group, jumped two points this month to a reading of 71, marking the sixth consecutive month the Index has moved up.
Pent-up demand and larger than expected tax refunds helped drive the Index up two points this month, said Britt Beemer, chairman of Americas Research Group. When the Index reaches 70 points or higher, the success of retail furniture sales goes up dramatically. This is a good sign especially considering that Memorial Day weekend is historically a very strong furniture weekend.
The Furniture Buying Index is compiled each month by Charleston, S.C.-based America's Research Group from interviews with 5,000 to 8,000 consumers across the country. In a typical month, 80 percent of the consumers interviewed can name a specific furniture item they intend to buy. The Index's mark signifies what percent of the benchmark 80 percent actually have a particular item in mind.