Furniture Buying Index Steady at 71December 5, 2012
The Furniture Buying Index head steady this month at a reading of 71, according to America's Research Group.
"Americans are cautious right now about how they spend their money," said Britt Beemer, chairman of the research group. "Christmas spending is a higher priority than things for the home at this time. Consumers are in 'hibernation mode' with their Christmas purchasing with many waiting until the final weekend, or even Dec.r 24, to finish their shopping in hopes of getting a great deal."
Beemer said consumers have moved big-ticket items for the home farther down the shopping list.
The Furniture Buying Index is compiled each month by America's Research Group 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% actually have a particular item in mind.