Printer Friendly

BIFMA revises forecast downward, foresees 18% drop this year. (Trends & News).

The Business and Institutional Furniture Manufacturers Assn. lowered its expectations for 2002 in its new office furniture industry forecast.

BIFMA anticipates an 18% drop in office furniture shipments this year, to just under $9 billion. The association expects a reversal next year, with a 7% increase to $9.6 billion.

If the forecast holds true, shipments will drop to their lowest level since 1994. Shipments will be off more than one-third from their 2000 peak of $13.285 billion.

DRI-WEFA, BIFMA's economic consulting organization, said weak office construction and low corporate investment will keep orders down in the short term.
COPYRIGHT 2002 Vance Publishing Corp.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2002, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Business and Institutional Furniture Manufacturers Association
Publication:Wood & Wood Products
Article Type:Brief Article
Geographic Code:1USA
Date:Sep 1, 2002
Previous Article:IWF 2002 a success at first glance. (Trends & News).
Next Article:Pattern Systems launches Open Architecture consortium. (Trends & News).

Related Articles
BIFMA reflects on the issues of the day.
Office furniture sales reach record heights.
Birth of an Association.
Statistics Chart Industry's Growth.
BIFMA's Reardon Discusses Economy's Impact On Office Furniture Sales.
Two Associations Predict Deeper Doldrums.
BIFMA raises sales outlook for 2003. (Trends & News).
Green's the theme at NeoCon: many exhibitors touted the environmental qualities of their products at North America's largest contract furnishings...
Office Furniture shipments remain on decline.

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters