The U.S. is a key player in the global furniture sector, says Giovanna Castellina, International Marketing Director at CSIL, the Center for industrial Studies in Milan.
Despite the drastic reduction in domestic volume during the crash, the U.S. remains the second largest producer, as well as the second largest furniture consumer. The U.S. is also the leading importer of furniture globally.
"The furniture market in the U.S. is huge and open," says Castellina, "accounting for 16% of total world consumption, at a value of over $US 71 billion.
U.S. furniture consumption experienced a massive drop in 2009 due to the financial crisis, but within six years the market recovered, increasing by about 21%, he says. According to CSIL estimates, growth for 2015 and 2016 of +3% in real terms is expected, thanks to an expanding housing market, improved consumer confidence and jobs growth.
Castellina's information is based on a new edition of the CSIL report, "United States Furniture Outlook."
See more details at http://www.worldfurnitureonline.com/research-market/united-states-furnit...
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