To forecast 2007’s outcome, Spingola used June and July data to estimate that 2007 appliance industry unit sales will be down 5.05 percent from the previous years. She predicted a slight up-turn for 2008.
But in late September, lacking no new data to indicate a reversal, the 2007 appliance industry volume decrease “might be a little bit worse,” she said.
She was watching to see if the Federal Reserve’s easing of interest rates by 50 basis points would relieve consumer anxiety. While the credit crunch and mortgage foreclosures are still a factor in the market, “Any easing of interest rates is going to improve the situation,” she said.