Belgian furniture sector slumps after strong first quarter

Belgian furniture sector slumps after strong first quarter

The Belgian furniture sector has not been able to build on its excellent first quarter as turnover dropped again in the second quarter. The industry's forecast for the remainder of the year is lackluster as well.

Turnover growth not maintained

In the first quarter, the Belgian furniture sector managed a 3.2 % turnover increase, its best performance since 2011. The second quarter the sector immediately resulted in a slump however, as turnover dropped 1.5 %.

 

Office furniture (up 15.9 %) and kitchens (up 12.4 %) still perform well, but Fedustria (federation of the textile, wood and furniture industries) does not expect the sector to pick up in the last part of the year. "Economic activity and consumer trust have to grow before that can happen", it says.

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