Factoids

Markets Finally Recovering to Pre-Recession 2007 Sales Levels Industry Sales in 2015 by Region

May 27, 2016  by in General   

This is the third factoid in a series of four factoids detailing the Furniture Industry’s recovery from the Recession to finally meet and exceed pre-recession peak sales of 2007. The majority of the positive growth in 2015 occurred in large Metropolitan Statistical Areas (MSA’s), while many Micropolitan Statistical Areas (Micro SA’s) and Rural Areas are still struggling to make a full recovery.

Breaking up the MSA markets by region shows that the Northeast is still struggling to return. It is the only region in which majorities of the MSA’s are falling short of pre-recession sales. While over 50 percent of MSA’s in the Midwest and South have recovered in industry sales, the West is topping the country with over 70 percent of MSA’s exceeding 2007 peak sales.

The percent of markets by region exceeding 2007 sales does not exactly correlate with the percent of region sales by market type. Despite the fact that less than half of MSA’s in the Northeast had sales in 2015 that exceeded 2007, the New York-Jersey City-White Plains MSA (a division of the broader New York CBSA) helped pushed percent of sales in 2015 past the 2007 level for the region. Likewise in the Midwest, the Chicago-Naperville-Arlington Heights MSA division has yet to fully recover – impacting the poorer sales performance of its region.

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MORT SEAMAN    8 years ago

I FIND THIS ANALYSIS QUITE DEPRESSING...RELATING SALES TO 2007 LEVELS ! I DO NOT EVEN KNOW WHETHER FIGURES HAVE BEEN ADJUSTED FOR INFLATION.

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FastFact: Markets Finally Recovering to Pre-Recession 2007 Sales, Part 3http://furniturecore.com/HFBusiness/HFBNow/ArticleID/14293/fastfact-markets-finally-recovering-to-pre-recession-2007-sales-part-3.aspx