Grand Rapids, MI – According to Michigan Live, the Business and Institutional Furniture Manufacturers Assn.’s new survey data and updated industry outlook show continued strength in the office furniture industry into 2007. The BIFMA quarterly outlook indicates solid shipment growth for 2006, however, it is at a slower rate than previously projected. The updated forecast for 2007 represents an incremental upgrade from three months earlier.
The industry is on target to grow shipments by 7.8% in 2006, to $10.9 billion, according to BIFMA’s quarterly outlook. BIFMA’s prior outlook in August predicted 8.6% growth this year and 8.2% next year. The outlook, prepared by Global Insight, predicts 8.7% growth in industry-wide shipments in 2007 to $11.8 billion.
Have something to say? Share your thoughts with us in the comments below.