BIFMA has lowered its 2010 projections from earlier this year.
The IHS Global Insight industry forecast model was adjusted to focus on the value of the U.S. office furniture market defined as consumption rather than as the historical and traditional shipments, or production.
This change was due to the increasing significance of international trade and its impact on the domestic market.
2009 Production:
$7.79 billion
Percent change: -30.2%
Consumption: $9.22 billion
Percent change: -29.0%
2010 Production:
$7.43 billion
Percent Change: -4.6%
Consumption: $9.04 billion
Percent Change: -1.9%
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