The Furniture Buying Index held steady this month at a reading of 70, according to America's Research Group.
"Job insecurity is a major factor in preventing the Index from rising this month," said Britt Beemer, chairman of America's Research Group. "Consumers are concerned about the security of their job, as well as their personal financial situation as many have experienced little or no salary increases and/or bonuses. Parents are also focusing on back-to-school purchases which are taking priority over other items this month."
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 percent actually have a particular item in mind.
