BRAZIL - According to the monthly survey from IBGE (Brazilian Institute of Geography and Statistics), furniture production in November 2015 was down by a significant 22.9% against the same month of 2014.
Although November showed a slight increase of 0.4% compared to October, it was the first rise since February in this comparison basis.
With these numbers, the year will again have a negative performance for the furniture industry. From January to November production fell 14.2% and in the latest 12 months furniture production is down by 13.4%.
It’s safe to conclude that according to IBGE the performance of the Brazilian furniture industry in 2015 will be worse than in 2014, when it was down by 7.4% compared to 2013. An end of the year forecast shows that the 2015 drop will double that of 2014.
