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Article: Tough times call for new measures: office furniture companies are dealing with a difficult economy by increasing efficiencies, focusing on new market segments and continuing to promote sustainability.(STATE OF THE INDUSTRY)(Company overview)
- Article from:
- Wood & Wood Products
- Article date:
- August 1, 2009
- Author:
CopyrightCOPYRIGHT 2009 Vance Publishing Corp. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The state of most industries right now have been affected by the economic downturn, and the the office furniture industry is no exception. According to the Business and Institutional Furniture Manufacturers Assn's (BIFMA) quarterly report published by economic consulting firm Global Insight and released in March, office furniture shipments were predicted to contract 19 percent in 2009, as compared to 2008, and orders were expected to decline 25 percent. The report also states that commercial and office sectors will be stalled by restricted credit and waning demand through 2009, with hopes of demand beginning to climb again during the second ...