Furniture Buying Index Hits 75

April 2, 2013  by in UnCategorized   

By Home Furnishings Business in economic news on April 3, 2013

The Furniture Buying Index increased three points this month to a reading of 75, according to America's Research Group.

The index had been holding at a reading of 72 since the first of the year, but it moves up three points this month to its highest level in nearly two years.

"Lower gas prices have left more money in consumers' pockets causing them to feel better about their current financial position," said Britt Beemer, chairman of America's Research Group. "Since many Americans have lower debt levels compared to one year ago, income tax refund checks are going to pay for big ticket purchases like furniture, instead of paying down existing debt."  

Beemer said consumers are cautiously making purchases they have previously postponed.

The Furniture Buying Index is compiled each month by America's Research Group from interviews with between 5,000 and 8,000 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 have a particular item in mind.