AFMA: Wood shipments slip 1.8%, uph. up 11%
By Furniture Today Staff -- Furniture Today, February 24, 2003
High Point — U.S. factory shipments of residential wood furniture dipped slightly last year, but upholstery shipments rose nearly 11% over 2001, according to the American Furniture Manufacturers Assn.
Shipments of wood household furniture totaled $10.7 billion last year, a decline of 1.8% from $10.9 billion in 2001, AFMA's year-end report said.
Upholstery shipments came to $10.9 billion in 2002, compared to $9.9 billion the previous year.
AFMA had predicted in December that wood shipments would increase slightly in 2002 and upholstery shipments would rise 9.3%.
"Upholstery actually performed a little better than we had expected, but wood shipments were not quite as strong as earlier numbers had indicated," said Joseph P. Logan, AFMA's vice president of financial services.
In its furniture forecast issued in December, AFMA predicted that overall industry shipments would total $24.4 billion this year and increase to $25.4 billion in 2004.
AFMA represents more than 200 U.S. furniture manufacturers and 250 industry suppliers.
