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From Home Furnishing Business
FastFact: Home Furnishings Bouncing Back From Recession
January 12,
2015 by in Economic News, Industry 
Looking at the three major home furnishings products —televisions, furniture and appliances — furniture suffered the worst side effects from the recession.
Despite the punch, home furnishings have shown stronger growth during the recovery that appliances and televisions, according to the U.S. Department of Labor’s “Current Expenditure Survey”.
The average annual household expenditure on major appliances accounted for less than 50 percent of furniture expenditures in 2003. In 2009, during the recession, major appliances increased, growing to 57 percent of furniture expenditures. Since the recession, this category has continued as a constant contributor of more than 50 percent and less than 60 percent.
In comparison, television sales were 25 percent of the furniture industry in 2003. By 2009, the contribution from the televisions had nearly doubled, increasing to 44 percent. The annual amount spent on television in 2013 dropped slightly to 40 percent.
None of the product categories in the home furnishings industry has reached the household sales levels that were achieved between 2006 and 2008.
The complete FastFact can be viewed online.