Release Date:
Michael A. Dunlap & Associates recently released the results of its quarterly MADA/OFI Trends Survey, designed to measure the business activity of the office furniture industry and its suppliers. This survey was completed in January.
Survey results include:
Gross shipments have improved, but order backlog has declined
Employment is steady (but below 50), while hours worked has increased above 50 for the first time since October 2008
Capital expenditures and tooling expenditures declined significantly in the 4th quarter of 2009
New Product Development has increased significantly
Raw material costs and employee costs have risen, but not to alarming levels
The Personal Outlook Index remains below 50, but with little change from the October 2009 Survey
“I’m a little disappointed in the results this quarter. It’s a real 'mixed bag.' I was expecting to see improvements in order backlog and personal outlook. I am surprised in the decreases in capital expenditures and tooling expenditures, but I think this will bounce back in the next quarter. The low Personal Outlook index puzzles me, but I think that OFM’s (office furniture manufacturers) are more optimistic than suppliers or service providers. That’s the norm,” said Michael Dunlap.