CSIL expects global furniture business to rise 3% to 4% in 2013
Furniture Today Staff -- Furniture Today, December 28, 2012
MILAN, Italy — CSIL has released its "World Furniture Outlook 2013" report, forecasting a global increase in furniture consumption of between 3% and 4% for the year.
The research organization's report contains analytical data on the furniture industry and forecasts for 2013 for 70 countries. Separately, CSIL also has issued the 30th edition of its "Forecast Report on the Furniture Sector in Italy."
As a basis for the world outlook, CSIL forecasts that worldwide gross domestic product will increase by 3.6% next year, a shade more than the 3.3% growth estimated for 2012. Economic growth should accelerate to 4.2% in 2014 and 4.4% in 2015, according to the report.
Emerging countries will continue to post faster growth, at 5.6% next year, 5.9% in 2014 and 6.1% in 2015, while countries with advanced economies are expected to grow at rates of 1.5%, 2.3% and 2.6% over the next three years.
Furniture consumption in North America is expected to grow 2% next year. Consumption is expected to grow faster in other global regions, except for Western Europe, where it's expected to decrease by 1%, according to CSIL.
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