GRAND RAPIDS, MI – The latest quarterly outlook from the Business and Institutional Furniture Manufacturers Assn. (BIFMA) sees a slightly deeper downturn occurring in 2009, although 2008 shipments will not drop as much as previously expected, according to Mlive.com. Additionally, the overall two-year decline will not go as far as earlier projected.
BIFMA projects a 1.8% decline in industry-wide shipments for 2008, to $11.2 billion. The struggling U.S. economy will push shipments down another 11.6% in 2009, to $9.9 billion, according to the updated BIFMA outlook.
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