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Factoids

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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Factoids

Do Election Years spur Industry Growth? U.S. Presidential Terms (1997 to 2016) Furniture Industry Sales Growth Over Previous Year

This is the first factoid in a series of five factoids exploring the possible connection between election years and a healthy economy. Looking back over the past 20 years and the elections those years encompassed yields interesting results. With the exception of the Great Recession in 2008, a possible heightened sense of confidence and hope for the future during election years may partly be responsible for higher furniture sales growth, consumer confidence, gross domestic product and lower unemployment rates.

In presidential elections over the last 20 years since 1997, the last year of each term with one exception, has produced the highest furniture industry sales growth of all four years of that presidency. The one exception was the second term of George W. Bush which ended during the Great Recession. The last year of each term is also the Election Year for next term, as the nation is experiencing now in 2016. If the pattern continues, 2016 should grow in excess of the 5.3% furniture sales growth of last year.

This factoid shows the furniture industry growth by year over 20 years encompassing five presidential terms, including the current 2016 election. Note that the industry’s highest growth was in the last years of Bill Clinton’s second term and George Bush’s first term. Our next factoid will show the link between election years and consumer confidence.

Source: Impact Consulting Services/ FurnitureCore.com



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FastFact: Do Election Years Spur Industry Growth?http://furniturecore.com/HFBusiness/HFBNow/ArticleID/14352/fastfact-do-election-years-spur-industry-growth.aspx
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