Economic Recovery Expected to Bring Office Furniture Industry Growth in 2004

Furniture World Magazine

The Business and Institutional Furniture Manufacturer's Association (BIFMA) International recently released the latest office furniture industry forecast prepared by the economic consulting organization, Global Insight. The most recent forecast for 2003 predicts an 8.5% decline in shipments to a level of $8.14 billion. This projection is consistent with the previous forecast from April 2003. Global Insight remains confident that economic growth will accelerate during the second half of 2003. This will encourage businesses to look ahead to better conditions, with both consumer and business confidence increasing. Still, the prospects for office furniture sales are mixed. A cautious corporate investment outlook and weak office construction will continue to restrain office furniture demand this year, while a recovery in employment and corporate profits will help stabilize demand and contribute to an acceleration in shipments during 2004. The pace of anticipated recovery this year will remain modest. On a year-over-year basis, the industry is expected to see an improvement in shipments during the first quarter of 2004. The outlook for business investment will continue to improve during the year, contributing to a potential double-digit increase in 2004 shipments to a level of $9.2 billion. Established in 1973, BIFMA International is a not-for-profit trade association of furniture manufacturers and suppliers addressing issues of common concern. Imports by Four Hands, LP was one of three furniture manufacturers named "Best in Show" for showroom design and display at Americas Mart in Atlanta last week. The independent panel of judges, comprised of interior design and merchandising professionals, had the following comments to describe the energetic space: "Show stopping appeal." "Visually dramatic and technically superb." "Excellent placement of product creates good traffic flow." "Tranquil Ambiance." The Four Hands Atlanta showroom displays a collection of fine home furnishings with cultural influences from over 17 countries. Four Hands collections are handcrafted and finished by expert artisans that lend their worldly influence. One judge described the showroom as a "Strong contrast between dark, heavy wood furniture and Indian spice colors of paprika and saffron utilized in fabric, fruit and natural materials." Nova Kids Unveils "Glo Scene" Lamp Collection For Baby And Children's Rooms Nova Kids, a leading resource of of juvenile-oriented table and floor lamps featuring American-made designs and contemporary styling, has introduced the Glo Scene Lamp Collection. Nova Kids is a division of Nova Lighting, a leading supplier of contemporary, medium-priced portable lighting for the industry. The Glo Scene Collection features delightful table lamps crafted of white metal and plastic bases, with attractive cloth shades. The grouping features charming designs, such as: "Nature's Flowers" on a blue sky background, "Nautical" depicting submarines and ships out on the sea, "Sports Balls" such as basketballs, soccer balls and more, "Rocket Ships" with stars and the moon, and "Fashion Girl" featuring girls' dresses and pink flowers, that are reminiscent of the sixties. Pictured are the Outer Space (left) and the Fashion Girl (right) Lamps which feature intricate base designs. The Outer Space lamp offers a colorful base design, highlighted with a lavender-colored cylindrical motif, and a white cloth shade color-coordinated with a Lavender trim on its top and bottom. The Fashion Girl lamp base includes a pink-colored base design sandwiched between white backgrounds on the top and bottom, plus a white cloth shade accented with red and navy blue bordered trim at both ends. Both lamps, which stand 21 inches tall and are 14 inches wide, include a night light with a 3-way rotary switch. For more information, contact NOVA Kids by phone at 323.277.6266, or by fax at 323.277.6270. Visit the website at www.novalamps.com. Headquartered at 6323 Maywood Avenue, Huntington Park, CA 90255, NOVA Kids retains showrooms in the International Home Furnishings Center, Showroom #H431, and in the San Francisco Design Center, Concourse, Showroom #514.