DESIGN INSPIRATION
It was more of the same for the U.S. manufacturing in November, with the sector contracting for the 13th month in a row.
According to container price tracker Drewry, spot rates fell 6% this week to an average of $1,384 per 40-foot container.
The 30% drop in household furniture imports coming to the United States for the first six months of 2023 is harsh reminder the industry has seen a major shift in just a year’s time.
For the 12th consecutive month, the U.S. manufacturing sector has shrunk.
Spot container rates have fallen around 25% over the past two months.
Furniture and home furnishings sales in September were nearly six points off the pace set in 2022, but the year-over-year decline was less severe than recent months, according to the Department of Commerce’s advance monthly estimates.
VIFA EXPO is the biggest furniture fair in Vietnam and Southeast Asia, with a reputation of 16 years and 14 editions that have been successfully held beyond expectations.
Furniture manufacturing appears to be back on the decline, shrinking two months in a row now following three months of gains.
For all its uncertainties and recent disruptions, the U.S. remains one of the most stable and robust markets for furniture sales in the world.
Furniture manufacturing stalled in August after three months of consecutive gains.
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