Furniture Buying Index Holds at 72

March 4, 2013  by in UnCategorized   

By Home Furnishings Business in economic news on March 5, 2013

The Furniture Buying Index remained flat again for March at a reading of 72, according to America's Research Group. 

"Consumers are getting income tax refund checks, but are debating whether to spend the money now or save the money this year," said Britt Beemer, chairman of America's Research Group. "Parents are saving for college funds for their children's education and must decide whether new furniture or a college education for their children is a bigger priority. Other consumers are worried about the future and 'saving for a rainy day' thus putting off major purchases until they are more comfortable about their financial situation." 

America's Research Group compiles the Furniture Buying Index each month from interviews with between 5,000 and 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.