7 June 2005-Grand Rapids (MI): The Business and Institutional Furniture Manufacturers Association (BIFMA) has released its industry order and shipment statistics for the month of April. It has been reported that although the industry continues to expand, growth rate for orders slowed in April, increasing 2 per cent year-on-year compared to a 12 per cent year-on-year growth rate for March.
Analyst, Budd Bugatch said: "Although April orders declined 10 per cent sequentially from March, we note that the industry has typically experienced some drop-off in activity from April to March, over the last ten years".
In early May, BIFMA released an updated industry forecast. 2005 shipment growth was raised from 8.1 per cent to 11.3 per cent and the order forecast was raised slightly from 8 percent to 8.3 per cent.