Brighter outlook for office furniture
| 15 September, 2014
BIFMA (Business and Institutional Furniture Manufacturers Association) estimate 2014 shipment growth of office furniture to increase by 3.3 percent to $9.2 billion, followed by 6.8 percent growth next year to $10.3 billion.
The outlook, prepared for BIFMA by IHS Global Insight, fluctuates throughout the year based on U.S. economic data and as furniture makers report sales volumes. The latest outlook, issued in early September, projects lower growth rates than the previous forecast in June.
Orders for the April-to-June period totaled $2.53 billion, down 1.6 percent from the same quarter in 2013, according to BIFMA data. Quarterly shipments dipped 0.8 percent to $2.42 billion.