Chicago, IL, April 5, 2006--Office furniture shipments rose a solid 9 percent on the year for the second consecutive month in February, according to the Business and Institutional Furniture Manufacturers Association (BIFMA).
The growth rate for January and February is down from the double-digit increases recorded for five straight months up to the end of 2005 but still robust compared with the bleak period the industry experienced from 2001 to 2003.
The 9 percent increase brought shipments to a total of $830 million. Orders rose 10 percent on the year to $815 million.
As of late 2005 in particular, rising sales of office furniture have raised profits of companies such as Herman Miller Inc. (MLHR.O: Quote, Profile, Research), Steelcase Inc. (SCS.N: Quote, Profile, Research), HNI Corp. (HNI.N: Quote, Profile, Research) and Knoll Inc. (KNL.N: Quote, Profile, Research)
The BIFMA report was based on a survey of 45 companies that account for around 76 percent of industry volume.
