February furniture indicators mixed
By Janice Chamberlain -- Furniture Today, April 12, 2005
High Point — February furniture economic indicators finished in almost a dead heat, with three up from January results, three slightly down and one basically flat.
Measured against February 2004, all seven indicators were up.
Compared with January, sales of new single-family homes in February jumped 9.4%, consumer spending on furniture and bedding rose 1.3% and privately owned housing starts inched up 0.5%. Existing single-family home resales dipped 0.4%, furniture factory employment was off 0.2% and furniture factory capacity slipped 0.1%.
If the balance of 2005 continues at the present rate, consumer spending for furniture and bedding in 2005 will increase 2.8% over 2004.
The furniture producer price index was essentially flat, with an increase of just 0.2%.
Sales of new single-family homes reached an annual rate of 1.226 million, up 5.2% over February 2004, and consumer spending on furniture and bedding in February 2005 was an annualized $77.6 billion, up 5.8% over year-ago results. New home sales are compiled by the U.S. Departments of Commerce and Housing and Urban Development, and consumer spending is tracked by Commerce.
Commerce, through the U.S. Bureau of the Census, releases statistics on housing starts. February 2005 housing starts were 2.195 million, surging 15.8% over year-earlier starts. If housing starts continue at their present pace, 2005 starts will increase 11.9% over 2004.
The furniture producer price index, charted by the U.S. Bureau of Labor Statistics, reached 164.3 in the latest month, up 3.5% from year-earlier results. Furniture factory employment, also tracked by BLS, was 570,200 in February, up 0.1% from February 2004 employment.
Sales of existing homes in February were 6.79 million, 6.1% over February 2004. The National Assn. of Realtors compiles statistics on sales of existing homes.
February furniture factory capacity, measured by the U.S. Federal Reserve Board, grew 4.3% from February 2004.
All February 2005 numbers are preliminary figures and subject to revision. Monthly figures represent annualized rates, except for the producer price index, factory capacity and employment.
| February furniture indicators | ||
|---|---|---|
| % change from Jan. 2005 | % change from Feb. 2004 | |
| Source: Furniture/Today market research, U.S. Dept.
of Commerce, U.S. Dept. of Labor, National Assn. of Realtors, U.S. Dept. of
Housing & Urban Development, U.S. Federal Reserve Board. |
||
| Sales of new single-family homes | 9.4% | 5.2% |
| Consumer spending for furniture & bedding | 1.3 | 5.8 |
| Privately owned housing starts | 0.5 | 15.8 |
| Furniture producer price index | 0.2 | 3.5 |
| Furniture factory capacity utilization | -0.1 | 4.3 |
| Furniture factory employment | -0.2 | 0.1 |
| Existing single-family home resales | -0.4 | 6.1 |
-
Aug. furniture indicators mixed
Oct 30, 2005 -
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