BIFMA Updates 2010 Office Furniture Forecast

Posted by Expert Gadget Reviewer on Monday, 8 March 2010

The Business and Institutional Furniture Manufacturers Association (BIFMA), issued their January 2010 statistics for office furniture orders and shipments. January 2010 orders declined -15%, and shipments declined -12% versus the prior year.

Officeinsight (an industry trade publication), quoted industry Analyst Budd Bugatch of Raymond James, "the year-over-year rate of decline for both orders and shipments showed slight improvement and comparisons will continue to get easier as the year unfolds."

BIFMA updated its 2010 forecast in February, now calling for a -1.5% decline in orders (versus previous -2.3%), and a -3.8% decline in shipments (versus -4.6% previous).