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A business consultancy, based in London, England, John Sacks' JSA Consultancy Services provides expert, in-depth, information advice and guidance as to how to exploit successfully the office furniture and interiors markets in Europe, North America, Australasia and Japan.

Updated outlook sees larger office furniture dip in 2010 than earlier forecast

Friday 20 November 2009

An updated outlook at the office furniture industry indicates that business has been declining in 2009 at a slightly lower rate than earlier expected but the market is expected to taking a bigger dip in 2010 than previously forecast.
The quarterly outlook from the Grand Rapids-based BIFMA - Business and Institutional Furniture Manufacturers Association - estimates the industry will end 2009 with a 30.2 percent decline in shipments to $7.79 billion. The August outlook was for a 31 percent decline.
The updated BIFMA outlook for 2010 estimates that industry-wide shipments will decline another 4.6 percent to $7.43 billion – a sales volume last seen in the early 1990s.
The prior BIFMA outlook three months ago forecast a 1 percent decline in 2010.
The American industry has been working through a severe downturn brought on by the U.S. recession, though recent data suggests the rate of decline has slowed and business is bottoming out. An industry recovery is expected to begin in the middle or latter half of 2010.
Industry leaders and Steelcase Inc. and Herman Miller Inc. report quarter sales and earnings next month.

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