Originally printed in the January 8th edition of Furniture Today
Reduced unemployment and an increase in consumer disposable income are aiding growth in the furniture industry, which is expected to grow 3% to $111.4 billion from $108.2 billion in 2017. According to Furniture Today’s exclusive economic forecast, which is based on projections from more than two dozen economists and economic predictions, inflation is projected to be 2.1% for 2018. This estimate is a 0.3 percentage point increase over the Bureau of Labor Statistics’ 2017 expected inflation of 1.8%.
About the data
Furniture Today’s 2018 Economic Outlook Survey was compiled by PBM Strategic Insights.