August 7, 2006—Office furniture order growth slowed again in June, raising concerns among some analysts that the market may be slowing.
Industry orders rose 2 percent from the same period last year to $1.075 billion, the Business and Institutional Furniture Manufacturers Association (BIFMA) said.
Industry for May had shown a double-digit increase 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.
Shipments rose 7 percent in June to $1 billion, according to BIFMA data. Some analysts said that despite slowing order growth in June, the office furniture market remains robust.
The BIFMA report was compiled from data from 41 companies that account for approximately 75 percent of industry volume. For more information, see the BIFMA Web site.
