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UK:Increasing consumption of upper end furniture
|The Upper End Furniture Market in the UK
In 2001 GDP in the United Kingdom rose by 2.2% and private consumption growth was of 3.7%. The unemployment rate in the United Kingdom continued to fall and was of 5% in 2001, inflation on the contrary increased in 2001.
According to a recent Csil survey (The European Market for upper end furniture, October 2002), the consumption of upper and medium upper end furniture including upholstery, kitchen and home furniture in the United Kingdom has been increasing over the last years.
In 2001 consumption reached Euro 1,430 million (factory price), accounting for 18% of the total home furniture consumption. Increases in consumption were observed in all three segments however more retained in the kitchen furniture segment. Upper and medium upper end production however decreased by 9,9% in 2001 and represent Euro 923.
Upper end furniture trade is estimated to account for 17% of total British furniture imports and 5% for exports.
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