Office Furniture Forecast For 2009 Is Dim

Posted by slone on September 26th, 2008 at 05:46am

Although a slump is in the forecast, orders for office furniture were up by 1% in July when compared to last years total. Even though the  percentage may seem low it added up to a $940 million dollar boost in office furniture sales.

The Business and Institutional Furniture Manufacturers group has predicted a drop in sales ranging between 2.4 and 3.9 percent for yearly totals. Next years outlook is even dimmer with the group estimating more than a 10% drop for 2009.

While many companies specialize in office furniture, many more depend on both business and home sales for their profits. And, with the housing slump taking it’s toll on home owners shopping for new furniture, they’re expected to see a drop in sales on both sides.

The drop in sales isn’t expected to match the decline that was seen in 2001 to 2003, however in the sagging market, any drop can create financial problems. Numerous companies have already surrendered to the failing economy and if the prediction for the next year is correct, many more may be seen closing their doors.

Under Furniture News