An Increase in Office Employment is Expected to Lift the US Office Furniture Market to $9.8 billion in 2006

Business Wire, Nov 7, 2005

DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/reports/c27369) has announced the addition of American Demand for Office Furniture and Trends to their offering

The office furniture industry performed satisfactorily throughout the 1990s as the domestic economy has shifted from being manufacturing driven to one where services play an increasingly important role.

However, the new millennium has been less fortunate. Between 2000 and 2003, office furniture shipments in the United States fell by more than one-third. This was the largest decrease in shipments for over 20 years. In value terms the market stood at $8,505 million in 2003. The office furniture market in 2003 in current dollar terms was ahead by only 8.2% over its 1990 value, and in constant dollar terms it was down by 10.7%.

Office employment growth started to improved in 2004 and real shipments of office furniture increased by about 2%. The positive trend is expected to continue. For 2005 a growth rate of 5.0% is forecast and 6.1% for 2006. This will lift the market value to $9.2 billion and $ 9.8 billion respectively. Nevertheless, the 2006 value will remain 26.5% lower than the previous peak level of $13.3 billion reached in 2000.

The mid to long-term outlook for the office furniture industry is good. Employment in the office intensive sector (defined as finance, insurance and real estate (FIRE), business services industries and government) will continue to grow at a pace exceeding that for the economy as a whole.

Topics covered in the report include:

- The Size of the Market by Product

- Client Categories

- Market Forces

- Forecast and Anticipated Trends

For more information visit http://www.researchandmarkets.com/reports/c27369