Slow business in summer trickles down to revenues

11.12.2018 − 

The German furniture industry saw its revenues drop off more and more month after month during the third quarter when compared with the same months last year. Industry revenues were down 6.3% at €1.530bn in September, according to monthly statistics drawn up by the Association of the German Furniture Industry (VDM). July had ended with a 4.5% improvement to €1.381bn, while August faced a 1.0% decline to €1.312bn. The third quarter as a whole thus produced industry revenues of €4.223bn. The German furniture industry had generated first-quarter revenues of €4.517bn, according to the VDM figures. The second quarter was even better with €4.535bn.

Looking at the first six months combined, industry revenues were 1.0% higher than the prior-year period at €9.051bn. With business slowing, the nine-month period ended with a small rise of 0.3% to €13.273bn. Domestic revenues softened 0.2% to €8.943bn, but export revenues increased 1.2% to €4.330bn in the first nine months combined.

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