Last year's forecast came close
By Furniture Today Staff -- Furniture Today, January 13, 2008
High Point — Last year's Furniture/Today forecast was almost on target, but a little pessimistic.
A year ago, our panel predicted that U.S. consumer spending on furniture and bedding would hit $85.9 billion in 2007, an increase of 1.5% over 2006. That was a bit off of the actual spending, based on the latest government numbers and analysts' estimates, of $86.9 billion, an increase of 2.8% from the previous year.
Likewise, we predicted that U.S. furniture store sales would come in at $63.2 billion, a gain of 1.8% over 2006. The number actually grew by an estimated 2.1% to $65.2 billion.
Last year's forecast projected that U.S. gross domestic product would grow 2.7% — within a hair of the actual estimated gain of 2.6%.
We overestimated the health of the housing market, however, forecasting declines but nothing near the slump that actually occurred.
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We need to heed this wake up call
Mar 28, 2011 -
New Forecast Indicates Better Times on Horizon
Dec 16, 2010 -
Top 100 Furniture Stores grew sales 6.4% in 2011
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Let's get ready for small-ball
Jan 18, 2012 -
ISPA ups 2011 Bedding Growth Forecast to 7.5%
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