AFMA Releases April Economic Forecast

Furniture World Magazine

The American Furniture Manufacturers Association (AFMA) has released its April edition of the Quarterly Economic Forecast to member companies. The forecast concludes that industry shipments will increase 4.8% in dollar value, up to $24.145 billion in 1999 and increase 1.4%, up to $24.488 billion in 2000. Consumer purchases of furniture are expected to increase 3.7% in 1999, up to $60.028 billion, and grow 2.5% further in 2000, up to $61.515 billion. Shipments of wood furniture are projected to rise in 1999 to $11.439 billion, an increase of 4.0% in dollar value of shipments, and upholstered furniture is expected to total $10.074 billion in 1999, up 5.8% from the 1998 level. The forecast includes more information on many aspects of the furniture industry as well as general national economic predictions. Using the AFMA Econometric Model and projections from the University of Michigan, the Association makes quarterly predictions of future furniture industry activity. Valuable information is provided on the following topics: the national economy, the housing market, gross domestic product, personal disposable income, interest rates, consumer purchases of furniture, manufacturers shipments of furniture, wood furniture shipments, upholstered furniture shipments, metal and other furniture and a company growth and market share analysis. AFMA is a nonprofit, volunteer organization for U.S. furniture manufacturers, with 300 corporate members representing 150,000 employees and more than 75% of domestic and global shipments of U.S. furniture. Headquartered in High Point, North Carolina, the world's furniture capital, AFMA also maintains a Washington, DC office to represent the interests of the furniture industry on legislative and regulatory affairs to the government.