AFMA RELEASES NEW ECONOMIC FORECAST

Furniture World Magazine

The American Furniture Manufacturers Association (AFMA) has released its autumn edition of the Quarterly Economic Forecast to member companies. The forecast concludes that industry shipments will increase 5.1% in dollar value, up to $20.978 billion in 1997 and increase 3.7%, up to $21.754 billion in 1998. Consumer purchases of furniture are expected to increase 5.6% in 1997, up to $52.372 billion, and grow 4.2% further in 1998, up to $54.583 billion. Wood furniture is expected to finish 1997 at $10.049 billion, an increase of 3.4% in dollar value of shipments, and upholstered furniture is expected to total $8.445 billion in 1997, up 7.4% from the 1996 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. The Quarterly Economic Forecast is produced as a member service of AFMA. Member companies can receive extra copies of the forecast by contacting Gail Stricklin at AFMA (910) 884-5000. Goto AFMA Page. AFMA is a nonprofit, volunteer organization for U.S. furniture manufacturers, with 350 corporate members representing 150,000 employees and more than 75% of domestic and global shipments of U.S. furniture.