Furniture Buying Index Steady at 74

June 4, 2012  by in UnCategorized   

By Home Furnishings Business in economic news on June 5, 2012

The Furniture Buying Index held steady at 74 for this month, halting the positive movement the index has shown in the last few months, according to America's Research Group.

"The Furniture Buying Index is stagnant at a reading of 74 as consumers are still concerned about plans for the summer," said Britt Beemer, chairman of ARG. "Many consumers have yet to finalize vacation plans for this summer since they are hesitant to commit to spending."

Beemer said consumers are still concerned about spending money and furniture is a low priority.

The Furniture Buying Index is compiled each month by America's Research Group from interviews with 5,000 to 8,000 U.S. consumers. 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.