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BIFMA announce increase in industry volumes in July

Thursday 8 September 2011

The Business and Institutional Furniture Manufacturers Association (BIFMA) has released its market statistics for July 2011. The month’s order and shipment statistics were derived from a sampling of 30 companies in the contract office furniture industry, the combined shipments of which make up about 75% of total industry volume.

BIFMA estimates July orders increased 7% year-on year; a slow down in growth relative to the 12% increase posted in June despite a significantly easier prior-year comparison (July 2010 orders increased 9% year-over-year compared with +16% in June 2010). Thus, on a two-year stacked basis, July order growth was roughly 1,200 basis points weaker than June. July orders declined 28% sequentially, weaker than normal seasonality would suggest; the 20-year median June to July decrease has been 14%. Trailing 12-month orders totalled $9.46 billion, a 19.6% year-over-year increase. July shipments increased 10% year-over-year, also decelerating compared with +19% last month; although the prior-year comparison was somewhat more difficult (July 2010 shipments increased 11% versus +8% in June 2010). On a two-year stacked basis, July shipment growth weakened by roughly 700 basis points. Trailing 12-month shipments were $9.2 billion, 18.3% higher year-over-year.

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