Furniture Buying Index Slips for Second Month: ARG

August 15, 2010  by in UnCategorized   

By Home Furnishings Business in economic news on August 16, 2010 The Furniture Buying Index slipped another three points this month to a reading of 67, according to America's Research Group.

This is the second consecutive month the index has experienced a downturn.

"Consumers are more focused on back-to-school shopping and essentials, and any big ticket purchase is being delayed for as long as possible," said Britt Beemer, chairman of ARG. "This drop moves the index back below the all-important level of 70 points or higher, where furniture retailers experience dramatic increases in sales."

Beemer said consumers are still worried about the economy and any non-essential purchases are being delayed.

The Furniture Buying Index is compiled each month by 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.