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May 2011 FBI - FURNITURE BUYING INDEX DROPS ONE POINT
Charleston, SC May 2, 2011 – The Furniture Buying Index dropped a point this month to a reading of 75. This drop moves the Index back to the March, 2011 reading.
Britt Beemer, Chairman of America's Research Group, said, "The Furniture Buying Index had been inching in the right direction, but this month it takes a step backward." "Consumer's are still not feeling good about the economy and are watching their purchasing very carefully," he added.
“Economic concerns and rising gas prices are a big enemy to furniture buying,” he concluded.
The Furniture Buying Index is compiled each month by America's Research Group from interviews with 5,000-8,000 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.
Britt Beemer is chairman of America's Research Group, a full-service consumer behavior research company based in Charleston, SC. ARG provides research and strategic planning services to leading manufacturers and retailers of consumer goods across North America.