The value of US wooden furniture imports declined to US$1.30 billion in February, but year-to-date imports were 3% higher than in February 2016. The month-over-month decline was mainly in imports from the US’ two largest suppliers China (-22%) and Vietnam (-19%).
However, year-to-date imports from China and Vietnam remained higher than in February last year. Wooden furniture imports from Malaysia decreased 11% from January toUS $52.5 million.
Indonesia grew furniture exports to the US market by 3% in February to US$47.2 million. The strongest growth year-to-date compared to 2016 was in imports from Mexico.
Imports of all types of wooden furniture were down in February with the largest decline in upholstered seating furniture.
Furniture manufacturing output picks up
The US economy grew in March and economic activity in the manufacturing expanded, according to the latest survey by the Institute for Supply Management.
Furniture manufacturing reported higher output in March, following three months of decline. All industries reported higher activity compared to February, including wood product manufacturing.
Consumer sentiment rose in April and was 10% higher than in April 2016, according to the University of Michigan consumer confidence index. Views were positive about current economic conditions, but Democrat and Republican voters had very different views on economic expectations.
Many households expect fundamental changes in the economy, which may result in variable spending and different trends by market and product.