August 2, 2006

June US office furniture order growth slows

Filed under: General, Furnitures — admin @ 12:57 am

CHICAGO, Aug 1 - U.S. office furniture order growth slowed once more in June, raising concerns among some analysts that the market might be slowing. 

Industry orders rose 2 percent from the same period last year to $1.075 billion, the Business and Institutional Furniture Manufacturers Association said.Industry for May had shown a double-digit augment in orders on the year, following a slower month in April. 

“Although the results still show positive growth, it could lend credence to the prospect that growth in the office furniture space is moderating, particularly when taken with April’s results,” Raymond James analyst Budd Bugatch wrote in a research note.

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