The beginning of 2024 posed challenges for the furniture industry in Poland, continuing the negative trend observed in 2023. Official data for February 2024 confirms this trend, is mentioned by B+R Studio. Despite February 2024 having one extra working day compared to February 2023, the value of furniture production sales decreased by 2.3% year-on-year. However, this decline was less severe compared to January 2024.
Surprisingly, production volumes saw increases in the largest furniture groups but slight decreases in the smaller ones. Specifically, the production volumes for wooden furniture used in bedrooms and dining rooms increased, while other categories experienced declines.
Average employment in the Polish furniture industry in February 2024 decreased to 146,000, continuing the downward trend observed since 2022.
Looking ahead, March 2024 is expected to see a further decline in the value of furniture production sales compared to March 2023, potentially even reaching double-digit decreases due to the high comparative base of March 2023.
Overall, February 2024 showed no significant surprises, with the predicted scenario of decline continuing. While there was a slight improvement compared to January, the industry still faces challenges, particularly in terms of employment and sales.
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Source and more information: B+R Studio