Furniture Buying Index Points to Slow Fall
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The National Furniture Buying Index slipped two points this month, a disappointing sign to companies that make and sell big-ticket items, according to Charleston, S.C.-based America’s Research Group.
The drop signals a possible disappointing fall season for retailers and manufacturers, said Britt Beemer, president of the consulting firm that tracks major consumer purchases: “We were looking hard for signs of improved buying sentiment in the past month but consumers are still very much hesitant to commit to large nonreplacement purchases.
“Retailers and manufacturers have a difficult task in convincing consumers to spend. So far they are losing the battle, because their reasons for buying aren’t overcoming financial concerns.”
The index created by America’s Research Group is now at 66, down from a 1996 high of 69 in June. Readings below 70, Beemer said, are “not considered positive for consumer purchasing plans.”
Greg Johnson covers retail businesses and restaurants for The Times. He can be reached at (714) 966-5950 and at [email protected]
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