CSIL projects 1% real growth for U.S. furniture industry in 2011

New report anticipates faster growth in developing countries

Furniture Today Staff -- Furniture Today, December 29, 2010

MILAN, Italy — The U.S. furniture industry is facing another slow growth year in 2011, according to the latest forecast from international research organization CSIL.

U.S. furniture consumption grew an estimated 1% in real dollars in 2010, excluding the effect of price inflation, and will repeat the performance this coming year with growth projected at another 1%, according to the Milan-based firm.

Real growth in furniture demand among all 70 countries covered in the World Furniture Outlook 2011 report is forecast at 3.3% for 2011.

CSIL estimates that the worldwide gross domestic product increased 4.8% in 2010 and anticipates it will grow another 4.2% in 2011. Among advanced economies, however, GDP growth is only pegged at 2.7% in 2010 and 2.2% in 2011. The real engine of growth is emerging and developing economies, with estimated and projected gains of 7.1% in 2010 and 6.4% in 2011.

The full World Furniture Outlook 2011 report is available for purchase and download from CSIL at www.worldfurnitureonline.com. Reports are also available in printed form. For information, contact the organization at csil@csilmilano.com.