GRAND RAPIDS, MI –According to Michigan Live, the Business and Institutional Furniture Manufacturer’s Assn.’s updated quarterly outlook forecasts growth of 6% in industry-wide shipments for 2007, to $11.5 billion. Reportedly, a slower growth in the U.S. economy in recent months led to a modest downgrade in the latest outlook for the office furniture industry. BIFMA’s previous quarterly outlook in February projected shipments to grow 7.3% in 2007 and 7.1% in 2008. The office furniture industry’s rate of growth for 2008 is now projected at 4.3%, to $12 billion, according to the new BIFMA outlook. Read more.
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