The monthly American Hardware Manufacturers Association survey of members shows a higher percentage of members reporting increased sales.
In comparing current sales levels with year-ago levels, 81% of respondents said sales were higher in June versus year-ago levels, up from 77% in May. For June, 19% reported sales were even, and 0% said sales were below year-ago levels.
“Hardware manufacturers continue to report improving year-over-year sales gains,” said AHMA president and CEO Timothy Farrell. “And with most economic indicators pointing toward an environment of favorable business conditions, we would expect this trend to continue for the remainder of the year and beyond. However, some recent reports, such as first-quarter GDP of minus 2.9% and disappointing consumer spending, indicate that future gains are not guaranteed.”
Looking forward one year, 67% of respondents project sales will be higher, down from 73% who felt that way in May. Twenty-four percent of June respondents project sales will be even one year from now, and 10% project sales will be below current levels.