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Factoids offer brief snapshots of current topics pertinent to the Furniture industry based on our on-going research. Increase your grasp of current trends, consumer attitudes, and shifts within the industry through solid statistics and concise insight.

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Consumer Spending: Personal Consumption of Services “Lifestyle Expenditures” 2000 to 2015 Q1

This is the third in a series of five Factoids detailing Consumer Spending. Consumers are spending an increasing amount of money on Consumer Services and “Lifestyle Expenditures” – leaving fewer dollars for Furniture and other durable and non-durable goods.


Consumers were faced with increasing costs of Housing and Healthcare on smaller budgets during the Great Recession. Factoid #3 shows the rise of Consumer Services expenditures from 2000 to 2015Q1. Like Housing, Healthcare expenditures have grown exponentially - increasing 126 percent in 15 years. Although dropping slightly in 2009, money spent on Food Services and Accommodations and Recreation increased by 93 percent and 77 percent. Consumers decreased spending on Transportation during the recession by 7 percent, but have grown 21 percent since 2009.


The final two factoids in this series will show how as the economy recovers and budgets increase, sales of home furnishing products are rising alongside Consumer Services expenditures.


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FastFact: Consumer Services Costs Continue to Increase
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