Data processed by the FederlegnoArredo Study Center, based on Istat figures, highlights a 1.3% drop in Italian exports for the wood-furniture supply chain in the period January-February 2024 compared to the same months in 2023, confirming the negative trend also noted in January.
'For a sector dedicated to exports like ours, this is not an encouraging figure. However, given the negative economic situation and very unstable geopolitical context, it is fair to say that expecting different numbers would have been unlikely. It is indeed more accurate to interpret the data as an element of stability and adjustment within the sector, considering the overall context,' said Claudio Feltrin, President of FederlegnoArredo.
Photo: Dreamstime.com
FederlegnoArredo's Infodata shows that the negative performance of two countries, traditionally leading in the export of wood-furniture products, continues to weigh on the final figures: France marked a -4% (519 million), and Germany recorded an even greater drop. However, Italy performed a +11.9%. The UK also showed negative results within the top 5, with a -13.8% decline in March, compared to a previously stable situation in the first two months (-0.7%). Confirming this trend, industrial production in March fell again (-7.3%), similar to January (-4.9% for the first quarter). The wood sector saw a production decline of -2.9% in March, leading to a first-quarter cumulative drop of -3.3%.
Feltrin concludes that March likely represents the lowest point of the curve, followed by a few months of stabilisation before a potential rise. This hypothesis is supported by confidence climate data: furniture companies foresee stability for the next three months (May-July), with order expectations showing a positive balance (+5%), indicating a stable second quarter for the furniture sector, potentially heralding a recovery.
The situation for the wood sector remains more critical, with worsening order assessments in April. However, even here, expectations for the coming months show a positive balance (+7%).
More information:
FederlegnoArredo
www.federlegnoarredo.it