Office furniture study results 'mixed bag'

Michael A. Dunlap & Associates recently released the results of its quarterly MADA/OFI Trends Survey, designed to measure the business activity of the office furniture industry and its suppliers. This survey was completed in January.
Survey results include:
*Gross shipments have improved, but order backlog has declined
*Employment is steady (but below 50), while hours worked has increased above 50 for the first time since October 2008
*Capital expenditures and tooling expenditures declined significantly in the 4th quarter of 2009
*New Product Development has increased significantly
*Raw material costs and employee costs have risen, but not to alarming levels
The Personal Outlook Index remains below 50, but with little change from the October 2009 Survey
“I’m a little disappointed in the results this quarter. It’s a real 'mixed bag.' I was expecting to see improvements in order backlog and personal outlook. I am surprised in the decreases in capital expenditures and tooling expenditures, but I think this will bounce back in the next quarter. The low Personal Outlook index puzzles me, but I think that OFM’s (office furniture manufacturers) are more optimistic than suppliers or service providers. That’s the norm,” said Michael Dunlap.