According to the German Upholstered Furniture Industry (VdDP), certain sectors of the industry have faced significant declines in turnover.
The turnover of the country's kitchen furniture industry decreased by almost 8 percent (-7.99%) in February compared to the same month last year. This is mentioned by Möbelkultur. Domestically, the decline was 8.53 percent, while internationally it was 7.31 percent. Overall, industry turnover for the first two months of 2024 was nearly 10 percent lower (-9.98%) than the previous year (domestic: -9.92%, international: -10.06%).
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Local upholstery manufacturers achieved €90.712 million in February of this year. Compared to the same month last year, this represents a decrease of 6.57 percent, according to the Association of the German Upholstered Furniture Industry (VdDP), reports Möbelkultur.
Of this amount, €59.993 million was generated domestically, which is 8.68 percent less than in February 2023. Conversely, foreign sales decreased slightly by 2.15 percent to €30.719 million. However, within the Eurozone, the decline was more pronounced at 10.91 percent with revenue totalling €11.081 million. The export ratio increased slightly by 1.53 percent to 33.86 percent.