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AFMA Forecasts 4% Growth for 2002

AFMA Forecasts 4% Growth for 2002
The American Furniture Manufacturers Assn. projects a modest recovery in residential furniture shipments in 2002. AFMA' Econometric Model predicts a 4.3% growth in industry shipments to $23.943 billion, after shipments dropped more than 10% in 2001.

Wood furniture, which had a slightly worse year than either upholstered or metal, will have a slightly stronger recovery than the other two segments in 2002. Wood shipments dropped 11.0% to $10.861 billion in 2001, but will rise 5.0% to 11.410 billion this year.

For 2003, AFMA predicts a 5.2% growth in shipments to $25.192 billion, and wood will continue to lead the three segments with 6.2% growth.

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