Furniture Sales in the United States Totaled $114 billion in 2019

By: Retail CIO Outlook | Tuesday, December 24, 2019

The sale of furniture and bedding in the United States is estimated to be around $114.5 billion in the year 2019. The amount is based on personal consumption and expenditure data from the U.S Department of Commerce's Bureau of Economic analysis

Fremont, CA: Total sale for furniture and bedding in the United States is estimated to be $114.5 billion in 2019. The estimation is based on personal consumption and expenditure data from the U.S Department of Commerce's Bureau of Economic analysis. As per the estimates, the sales of furniture and bedding in the U.S increased by 2.8 percent since the previous year, which marked a slow yet steady growth. The slow growth is attributed to the rising tariffs on china, which has impacted the furniture industry significantly.

The economy continued to tramp along this year at a much slower pace than that of the previous year. The real GDP, as well as the real disposable income, grew at a slower pace in the second quarter of 2019, compared to the previous year. The real GDP grew by 2 percent and real disposable grew by 2.5 percent in the second quarter of 2019.

However, there were some positive impacts too, the unemployment went down by, and the median household income went up. The median household income reached $63,179 in the year 2018, which was an upsurge of 0.9 percent since 2017.

The ones aged under 25 years had the most enormous median household income growth, that incased by 9.1 percent since 2017 to 2018. The individuals falling under the age group of 25 to 34 experienced the next highest increase of 5 percent, during the same period.

Housing starts were up by 6.6 percent across the U.S, with all the regions experiencing similar growth. The housing permits grew by 12 percent in August 2019 since the previous year in all areas across the U.S.

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