'09 sales worse than expected
By Furniture Today Staff -- Furniture Today, January 11, 2010
HIGH POINT — Last year's Furniture/Today consensus forecast predicted that 2009 would be a down year, but it was worse than expected.
As 2008 was drawing to a close, analysts expected U.S. furniture and bedding sales would fall about 2% in 2009. But the estimated decline was 8.8%, according to U.S. Department of Commerce and Furniture/Today market research estimates.
That made 2009 a worse year than 2008, when the sales total declined by 5.3%, according to an updated estimate.
The forecast also wasn't pessimistic enough about the broad U.S. economy, predicting a 0.2% decline in gross domestic product. Through the third quarter, actual 2009 GDP was down 2.6%, the Department of Commerce said. And the unemployment rate was expected to average 7.9%, not the 9.2% figure actually posted through November.
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