Graph and download economic data for Federal Funds Target Rate (DISCONTINUED) (DFEDTAR) from 1982-09-27 to 2008-12-15 about federal, interest rate, interest, rate, and USA.

European furniture manufacturing revenue is slated to contract at a compound annual rate of 4.6% over the five years through 2024. Weak economic conditions, initially stemming from the COVID-19 pandemic but then worsened by the cost-of-living crisis, has weakened demand for new construction projects, reducing the number of new spaces that require furnishing. While builders saw a post pandemic boom in renovation activity, inflationary pressures weakened disposable incomes and caused people to cut their discretionary spending, limiting furniture purchases. Businesses have increasingly preserved cash and opted to postpone or cancel significant construction projects, especially after interest rates were hiked to help combat soaring inflation, causing the cost of borrowing to spike. In 2024, revenue is expected to dip by a further 3.7% to €49.3 billion. Sales to construction companies will continue to suffer, as high interest rates have led to many would-be home buyers being priced out of the market. This has weakened demand for new houses and led to property developers reducing output. At the same time, business and consumer confidence remains weak. Low consumer spending will also hinder demand from businesses like retailers and service providers (e.g. hotels and restaurants), as these businesses see demand for their own services fall as consumers cut back, slashing their own spending budgets. Over the five years through 2029, revenue is forecast to expand at a compound annual rate of 2% to reach €164.5 billion. Economic conditions will improve as inflation eases, prompting central banks to lower interest rates. As interest rates fall, the cost of borrowing will follow suit, driving up the number of people meeting the affordability criteria for mortgages and spurring new construction activity from housebuilders, which will create a greater need for new furniture. Businesses will also be more likely to undertake significant construction projects and buy new furniture, creating more revenue opportunities for furniture makers.

European furniture manufacturing revenue is slated to contract at a compound annual rate of 4.6% over the five years through 2024. Weak economic conditions, initially stemming from the COVID-19 pandemic but then worsened by the cost-of-living crisis, has weakened demand for new construction projects, reducing the number of new spaces that require furnishing. While builders saw a post pandemic boom in renovation activity, inflationary pressures weakened disposable incomes and caused people to cut their discretionary spending, limiting furniture purchases. Businesses have increasingly preserved cash and opted to postpone or cancel significant construction projects, especially after interest rates were hiked to help combat soaring inflation, causing the cost of borrowing to spike. In 2024, revenue is expected to dip by a further 3.7% to €49.3 billion. Sales to construction companies will continue to suffer, as high interest rates have led to many would-be home buyers being priced out of the market. This has weakened demand for new houses and led to property developers reducing output. At the same time, business and consumer confidence remains weak. Low consumer spending will also hinder demand from businesses like retailers and service providers (e.g. hotels and restaurants), as these businesses see demand for their own services fall as consumers cut back, slashing their own spending budgets. Over the five years through 2029, revenue is forecast to expand at a compound annual rate of 2% to reach €164.5 billion. Economic conditions will improve as inflation eases, prompting central banks to lower interest rates. As interest rates fall, the cost of borrowing will follow suit, driving up the number of people meeting the affordability criteria for mortgages and spurring new construction activity from housebuilders, which will create a greater need for new furniture. Businesses will also be more likely to undertake significant construction projects and buy new furniture, creating more revenue opportunities for furniture makers.

Brazil Certificate of Deposits Rate data was reported at 0.459 % per Month in Aug 2019. This records a decrease from the previous number of 0.517 % per Month for Jul 2019. Brazil Certificate of Deposits Rate data is updated monthly, averaging 1.026 % per Month from Jan 1995 (Median) to Aug 2019, with 296 observations. The data reached an all-time high of 4.568 % per Month in Mar 1995 and a record low of 0.435 % per Month in Feb 2018. Brazil Certificate of Deposits Rate data remains active status in CEIC and is reported by Central Bank of Brazil. The data is categorized under Global Database’s Brazil – Table BR.MA003: Certificate of Deposit Rate (Discontinued).

European furniture manufacturing revenue is slated to contract at a compound annual rate of 4.6% over the five years through 2024. Weak economic conditions, initially stemming from the COVID-19 pandemic but then worsened by the cost-of-living crisis, has weakened demand for new construction projects, reducing the number of new spaces that require furnishing. While builders saw a post pandemic boom in renovation activity, inflationary pressures weakened disposable incomes and caused people to cut their discretionary spending, limiting furniture purchases. Businesses have increasingly preserved cash and opted to postpone or cancel significant construction projects, especially after interest rates were hiked to help combat soaring inflation, causing the cost of borrowing to spike. In 2024, revenue is expected to dip by a further 3.7% to €49.3 billion. Sales to construction companies will continue to suffer, as high interest rates have led to many would-be home buyers being priced out of the market. This has weakened demand for new houses and led to property developers reducing output. At the same time, business and consumer confidence remains weak. Low consumer spending will also hinder demand from businesses like retailers and service providers (e.g. hotels and restaurants), as these businesses see demand for their own services fall as consumers cut back, slashing their own spending budgets. Over the five years through 2029, revenue is forecast to expand at a compound annual rate of 2% to reach €164.5 billion. Economic conditions will improve as inflation eases, prompting central banks to lower interest rates. As interest rates fall, the cost of borrowing will follow suit, driving up the number of people meeting the affordability criteria for mortgages and spurring new construction activity from housebuilders, which will create a greater need for new furniture. Businesses will also be more likely to undertake significant construction projects and buy new furniture, creating more revenue opportunities for furniture makers.

In March 2025, the employment rate in the United Kingdom was 75 percent, down from 75.1 percent in the previous month. After almost dropping below 70 percent in 2011, the employment rate in the United Kingdom started to climb at a relatively fast pace, peaking in early 2020. Due to the onset of the COVID-19 pandemic, however, the employment declined to 74.6 percent by January 2021. Although not quite at pre-pandemic levels, the employment rate has since recovered. Hot UK labor market cools in 2023 Although unemployment in the UK spiked at 5.1 percent in the aftermath of the COVID-19 pandemic, it fell throughout most of 2022, to just 3.6 percent in August 2022. Around that time, the number of job vacancies in the UK was also at quite high levels, reaching a peak of 1.3 million by May 2022. The strong labor market put employees in quite a strong position, perhaps encouraging the high number of resignations that took place around that time. While wage growth has also been strong since 2022, these gains were cancelled-out for a long period between 2021 and 2023 when inflation grew faster than wages. By July 2023, unemployment had bounced back to 4.3 percent, while the number of job vacancies fell below one million in August 2023 for the first time since August 2021. UK in recession at end of 2023 Although the UK labor market has loosened since 2022, it has generally remained in good health, with unemployment low by historical standards. Inflation also fell throughout 2023, from 10.1 percent at the beginning of the year, to four percent by December. Getting inflation down to more acceptable levels, however, came at the expense of raising the Bank of England's already high-interest rate throughout 2023. The knock-on effect of higher borrowing costs likely did little to spur economic growth that year, with GDP growing by just 0.1 percent in 2023. Even this meager economic growth was only achieved due to growth in the first half of the year. In the second half of 2023, the economy shrank in two consecutive quarters, meaning the UK is officially in recession heading into a probable election year.

European furniture manufacturing revenue is slated to contract at a compound annual rate of 4.6% over the five years through 2024. Weak economic conditions, initially stemming from the COVID-19 pandemic but then worsened by the cost-of-living crisis, has weakened demand for new construction projects, reducing the number of new spaces that require furnishing. While builders saw a post pandemic boom in renovation activity, inflationary pressures weakened disposable incomes and caused people to cut their discretionary spending, limiting furniture purchases. Businesses have increasingly preserved cash and opted to postpone or cancel significant construction projects, especially after interest rates were hiked to help combat soaring inflation, causing the cost of borrowing to spike. In 2024, revenue is expected to dip by a further 3.7% to €49.3 billion. Sales to construction companies will continue to suffer, as high interest rates have led to many would-be home buyers being priced out of the market. This has weakened demand for new houses and led to property developers reducing output. At the same time, business and consumer confidence remains weak. Low consumer spending will also hinder demand from businesses like retailers and service providers (e.g. hotels and restaurants), as these businesses see demand for their own services fall as consumers cut back, slashing their own spending budgets. Over the five years through 2029, revenue is forecast to expand at a compound annual rate of 2% to reach €164.5 billion. Economic conditions will improve as inflation eases, prompting central banks to lower interest rates. As interest rates fall, the cost of borrowing will follow suit, driving up the number of people meeting the affordability criteria for mortgages and spurring new construction activity from housebuilders, which will create a greater need for new furniture. Businesses will also be more likely to undertake significant construction projects and buy new furniture, creating more revenue opportunities for furniture makers.

European furniture manufacturing revenue is slated to contract at a compound annual rate of 4.6% over the five years through 2024. Weak economic conditions, initially stemming from the COVID-19 pandemic but then worsened by the cost-of-living crisis, has weakened demand for new construction projects, reducing the number of new spaces that require furnishing. While builders saw a post pandemic boom in renovation activity, inflationary pressures weakened disposable incomes and caused people to cut their discretionary spending, limiting furniture purchases. Businesses have increasingly preserved cash and opted to postpone or cancel significant construction projects, especially after interest rates were hiked to help combat soaring inflation, causing the cost of borrowing to spike. In 2024, revenue is expected to dip by a further 3.7% to €49.3 billion. Sales to construction companies will continue to suffer, as high interest rates have led to many would-be home buyers being priced out of the market. This has weakened demand for new houses and led to property developers reducing output. At the same time, business and consumer confidence remains weak. Low consumer spending will also hinder demand from businesses like retailers and service providers (e.g. hotels and restaurants), as these businesses see demand for their own services fall as consumers cut back, slashing their own spending budgets. Over the five years through 2029, revenue is forecast to expand at a compound annual rate of 2% to reach €164.5 billion. Economic conditions will improve as inflation eases, prompting central banks to lower interest rates. As interest rates fall, the cost of borrowing will follow suit, driving up the number of people meeting the affordability criteria for mortgages and spurring new construction activity from housebuilders, which will create a greater need for new furniture. Businesses will also be more likely to undertake significant construction projects and buy new furniture, creating more revenue opportunities for furniture makers.

European furniture manufacturing revenue is slated to contract at a compound annual rate of 4.6% over the five years through 2024. Weak economic conditions, initially stemming from the COVID-19 pandemic but then worsened by the cost-of-living crisis, has weakened demand for new construction projects, reducing the number of new spaces that require furnishing. While builders saw a post pandemic boom in renovation activity, inflationary pressures weakened disposable incomes and caused people to cut their discretionary spending, limiting furniture purchases. Businesses have increasingly preserved cash and opted to postpone or cancel significant construction projects, especially after interest rates were hiked to help combat soaring inflation, causing the cost of borrowing to spike. In 2024, revenue is expected to dip by a further 3.7% to €49.3 billion. Sales to construction companies will continue to suffer, as high interest rates have led to many would-be home buyers being priced out of the market. This has weakened demand for new houses and led to property developers reducing output. At the same time, business and consumer confidence remains weak. Low consumer spending will also hinder demand from businesses like retailers and service providers (e.g. hotels and restaurants), as these businesses see demand for their own services fall as consumers cut back, slashing their own spending budgets. Over the five years through 2029, revenue is forecast to expand at a compound annual rate of 2% to reach €164.5 billion. Economic conditions will improve as inflation eases, prompting central banks to lower interest rates. As interest rates fall, the cost of borrowing will follow suit, driving up the number of people meeting the affordability criteria for mortgages and spurring new construction activity from housebuilders, which will create a greater need for new furniture. Businesses will also be more likely to undertake significant construction projects and buy new furniture, creating more revenue opportunities for furniture makers.

European furniture manufacturing revenue is slated to contract at a compound annual rate of 4.6% over the five years through 2024. Weak economic conditions, initially stemming from the COVID-19 pandemic but then worsened by the cost-of-living crisis, has weakened demand for new construction projects, reducing the number of new spaces that require furnishing. While builders saw a post pandemic boom in renovation activity, inflationary pressures weakened disposable incomes and caused people to cut their discretionary spending, limiting furniture purchases. Businesses have increasingly preserved cash and opted to postpone or cancel significant construction projects, especially after interest rates were hiked to help combat soaring inflation, causing the cost of borrowing to spike. In 2024, revenue is expected to dip by a further 3.7% to €49.3 billion. Sales to construction companies will continue to suffer, as high interest rates have led to many would-be home buyers being priced out of the market. This has weakened demand for new houses and led to property developers reducing output. At the same time, business and consumer confidence remains weak. Low consumer spending will also hinder demand from businesses like retailers and service providers (e.g. hotels and restaurants), as these businesses see demand for their own services fall as consumers cut back, slashing their own spending budgets. Over the five years through 2029, revenue is forecast to expand at a compound annual rate of 2% to reach €164.5 billion. Economic conditions will improve as inflation eases, prompting central banks to lower interest rates. As interest rates fall, the cost of borrowing will follow suit, driving up the number of people meeting the affordability criteria for mortgages and spurring new construction activity from housebuilders, which will create a greater need for new furniture. Businesses will also be more likely to undertake significant construction projects and buy new furniture, creating more revenue opportunities for furniture makers.

European furniture manufacturing revenue is slated to contract at a compound annual rate of 4.6% over the five years through 2024. Weak economic conditions, initially stemming from the COVID-19 pandemic but then worsened by the cost-of-living crisis, has weakened demand for new construction projects, reducing the number of new spaces that require furnishing. While builders saw a post pandemic boom in renovation activity, inflationary pressures weakened disposable incomes and caused people to cut their discretionary spending, limiting furniture purchases. Businesses have increasingly preserved cash and opted to postpone or cancel significant construction projects, especially after interest rates were hiked to help combat soaring inflation, causing the cost of borrowing to spike. In 2024, revenue is expected to dip by a further 3.7% to €49.3 billion. Sales to construction companies will continue to suffer, as high interest rates have led to many would-be home buyers being priced out of the market. This has weakened demand for new houses and led to property developers reducing output. At the same time, business and consumer confidence remains weak. Low consumer spending will also hinder demand from businesses like retailers and service providers (e.g. hotels and restaurants), as these businesses see demand for their own services fall as consumers cut back, slashing their own spending budgets. Over the five years through 2029, revenue is forecast to expand at a compound annual rate of 2% to reach €164.5 billion. Economic conditions will improve as inflation eases, prompting central banks to lower interest rates. As interest rates fall, the cost of borrowing will follow suit, driving up the number of people meeting the affordability criteria for mortgages and spurring new construction activity from housebuilders, which will create a greater need for new furniture. Businesses will also be more likely to undertake significant construction projects and buy new furniture, creating more revenue opportunities for furniture makers.

European furniture manufacturing revenue is slated to contract at a compound annual rate of 4.6% over the five years through 2024. Weak economic conditions, initially stemming from the COVID-19 pandemic but then worsened by the cost-of-living crisis, has weakened demand for new construction projects, reducing the number of new spaces that require furnishing. While builders saw a post pandemic boom in renovation activity, inflationary pressures weakened disposable incomes and caused people to cut their discretionary spending, limiting furniture purchases. Businesses have increasingly preserved cash and opted to postpone or cancel significant construction projects, especially after interest rates were hiked to help combat soaring inflation, causing the cost of borrowing to spike. In 2024, revenue is expected to dip by a further 3.7% to €49.3 billion. Sales to construction companies will continue to suffer, as high interest rates have led to many would-be home buyers being priced out of the market. This has weakened demand for new houses and led to property developers reducing output. At the same time, business and consumer confidence remains weak. Low consumer spending will also hinder demand from businesses like retailers and service providers (e.g. hotels and restaurants), as these businesses see demand for their own services fall as consumers cut back, slashing their own spending budgets. Over the five years through 2029, revenue is forecast to expand at a compound annual rate of 2% to reach €164.5 billion. Economic conditions will improve as inflation eases, prompting central banks to lower interest rates. As interest rates fall, the cost of borrowing will follow suit, driving up the number of people meeting the affordability criteria for mortgages and spurring new construction activity from housebuilders, which will create a greater need for new furniture. Businesses will also be more likely to undertake significant construction projects and buy new furniture, creating more revenue opportunities for furniture makers.

European furniture manufacturing revenue is slated to grow at a compound annual rate of 2.7% over the five years through 2025. A turbulent economic climate in recent years has weighed on the level of growth felt by furniture manufacturers. Challenges initially stemmed from the COVID-19 pandemic, but then worsened with inflationary pressures. Macroeconomic headwinds weakened demand for new construction projects across most European countries in 2023 and 2024, reducing the number of new spaces that required furnishing. Businesses have increasingly preserved cash and opted to postpone or cancel significant construction projects, especially after interest rates were hiked to help combat soaring inflation, causing the cost of borrowing to spike. This dampened demand for furniture manufacturers, causing revenue growth to stagnate. Inflationary pressures also weakened disposable incomes and caused people to cut their discretionary spending, limiting furniture purchases. In 2025, revenue is expected to rise slightly by 0.9% to €175.8 billion. Revenue growth is being supported by the improving global economic climate, with easing inflation and falling interest rates. This is helping to lift consumer confidence, albeit cost of living pressures are still on the mind of consumers, and this is helping to slowly lift spending on furniture in faster growing European countries like Spain. Construction activity is also picking up in Spain and Eastern Europe, with building permits on the rise once again. More commercial and residential building will help to boost demand for furniture from new homeowners and corporate companies looking to fit out their offices. Still, in countries like Germany, the construction sector has a long road to recovery, which is continuing to subdue revenue growth in 2025. Over the five years through 2030, revenue is forecast to expand at a compound annual rate of 4.7% to reach €221.7 billion. The European economy is forecast to continue to improve as inflation eases, prompting central banks to lower interest rates. As interest rates fall, the cost of borrowing will follow suit, driving up the number of people meeting the affordability criteria for mortgages and spurring new construction activity from housebuilders, which will create a greater need for new furniture. Businesses will also be more likely to undertake significant construction projects and buy new furniture, creating more revenue opportunities for furniture makers.

European furniture manufacturing revenue is slated to contract at a compound annual rate of 4.6% over the five years through 2024. Weak economic conditions, initially stemming from the COVID-19 pandemic but then worsened by the cost-of-living crisis, has weakened demand for new construction projects, reducing the number of new spaces that require furnishing. While builders saw a post pandemic boom in renovation activity, inflationary pressures weakened disposable incomes and caused people to cut their discretionary spending, limiting furniture purchases. Businesses have increasingly preserved cash and opted to postpone or cancel significant construction projects, especially after interest rates were hiked to help combat soaring inflation, causing the cost of borrowing to spike. In 2024, revenue is expected to dip by a further 3.7% to €49.3 billion. Sales to construction companies will continue to suffer, as high interest rates have led to many would-be home buyers being priced out of the market. This has weakened demand for new houses and led to property developers reducing output. At the same time, business and consumer confidence remains weak. Low consumer spending will also hinder demand from businesses like retailers and service providers (e.g. hotels and restaurants), as these businesses see demand for their own services fall as consumers cut back, slashing their own spending budgets. Over the five years through 2029, revenue is forecast to expand at a compound annual rate of 2% to reach €164.5 billion. Economic conditions will improve as inflation eases, prompting central banks to lower interest rates. As interest rates fall, the cost of borrowing will follow suit, driving up the number of people meeting the affordability criteria for mortgages and spurring new construction activity from housebuilders, which will create a greater need for new furniture. Businesses will also be more likely to undertake significant construction projects and buy new furniture, creating more revenue opportunities for furniture makers.

European furniture manufacturing revenue is slated to contract at a compound annual rate of 4.6% over the five years through 2024. Weak economic conditions, initially stemming from the COVID-19 pandemic but then worsened by the cost-of-living crisis, has weakened demand for new construction projects, reducing the number of new spaces that require furnishing. While builders saw a post pandemic boom in renovation activity, inflationary pressures weakened disposable incomes and caused people to cut their discretionary spending, limiting furniture purchases. Businesses have increasingly preserved cash and opted to postpone or cancel significant construction projects, especially after interest rates were hiked to help combat soaring inflation, causing the cost of borrowing to spike. In 2024, revenue is expected to dip by a further 3.7% to €49.3 billion. Sales to construction companies will continue to suffer, as high interest rates have led to many would-be home buyers being priced out of the market. This has weakened demand for new houses and led to property developers reducing output. At the same time, business and consumer confidence remains weak. Low consumer spending will also hinder demand from businesses like retailers and service providers (e.g. hotels and restaurants), as these businesses see demand for their own services fall as consumers cut back, slashing their own spending budgets. Over the five years through 2029, revenue is forecast to expand at a compound annual rate of 2% to reach €164.5 billion. Economic conditions will improve as inflation eases, prompting central banks to lower interest rates. As interest rates fall, the cost of borrowing will follow suit, driving up the number of people meeting the affordability criteria for mortgages and spurring new construction activity from housebuilders, which will create a greater need for new furniture. Businesses will also be more likely to undertake significant construction projects and buy new furniture, creating more revenue opportunities for furniture makers.

European furniture manufacturing revenue is slated to contract at a compound annual rate of 4.6% over the five years through 2024. Weak economic conditions, initially stemming from the COVID-19 pandemic but then worsened by the cost-of-living crisis, has weakened demand for new construction projects, reducing the number of new spaces that require furnishing. While builders saw a post pandemic boom in renovation activity, inflationary pressures weakened disposable incomes and caused people to cut their discretionary spending, limiting furniture purchases. Businesses have increasingly preserved cash and opted to postpone or cancel significant construction projects, especially after interest rates were hiked to help combat soaring inflation, causing the cost of borrowing to spike. In 2024, revenue is expected to dip by a further 3.7% to €49.3 billion. Sales to construction companies will continue to suffer, as high interest rates have led to many would-be home buyers being priced out of the market. This has weakened demand for new houses and led to property developers reducing output. At the same time, business and consumer confidence remains weak. Low consumer spending will also hinder demand from businesses like retailers and service providers (e.g. hotels and restaurants), as these businesses see demand for their own services fall as consumers cut back, slashing their own spending budgets. Over the five years through 2029, revenue is forecast to expand at a compound annual rate of 2% to reach €164.5 billion. Economic conditions will improve as inflation eases, prompting central banks to lower interest rates. As interest rates fall, the cost of borrowing will follow suit, driving up the number of people meeting the affordability criteria for mortgages and spurring new construction activity from housebuilders, which will create a greater need for new furniture. Businesses will also be more likely to undertake significant construction projects and buy new furniture, creating more revenue opportunities for furniture makers.

European furniture manufacturing revenue is slated to grow at a compound annual rate of 2.7% over the five years through 2025. A turbulent economic climate in recent years has weighed on the level of growth felt by furniture manufacturers. Challenges initially stemmed from the COVID-19 pandemic, but then worsened with inflationary pressures. Macroeconomic headwinds weakened demand for new construction projects across most European countries in 2023 and 2024, reducing the number of new spaces that required furnishing. Businesses have increasingly preserved cash and opted to postpone or cancel significant construction projects, especially after interest rates were hiked to help combat soaring inflation, causing the cost of borrowing to spike. This dampened demand for furniture manufacturers, causing revenue growth to stagnate. Inflationary pressures also weakened disposable incomes and caused people to cut their discretionary spending, limiting furniture purchases. In 2025, revenue is expected to rise slightly by 0.9% to €175.8 billion. Revenue growth is being supported by the improving global economic climate, with easing inflation and falling interest rates. This is helping to lift consumer confidence, albeit cost of living pressures are still on the mind of consumers, and this is helping to slowly lift spending on furniture in faster growing European countries like Spain. Construction activity is also picking up in Spain and Eastern Europe, with building permits on the rise once again. More commercial and residential building will help to boost demand for furniture from new homeowners and corporate companies looking to fit out their offices. Still, in countries like Germany, the construction sector has a long road to recovery, which is continuing to subdue revenue growth in 2025. Over the five years through 2030, revenue is forecast to expand at a compound annual rate of 4.7% to reach €221.7 billion. The European economy is forecast to continue to improve as inflation eases, prompting central banks to lower interest rates. As interest rates fall, the cost of borrowing will follow suit, driving up the number of people meeting the affordability criteria for mortgages and spurring new construction activity from housebuilders, which will create a greater need for new furniture. Businesses will also be more likely to undertake significant construction projects and buy new furniture, creating more revenue opportunities for furniture makers.

European furniture manufacturing revenue is slated to contract at a compound annual rate of 4.6% over the five years through 2024. Weak economic conditions, initially stemming from the COVID-19 pandemic but then worsened by the cost-of-living crisis, has weakened demand for new construction projects, reducing the number of new spaces that require furnishing. While builders saw a post pandemic boom in renovation activity, inflationary pressures weakened disposable incomes and caused people to cut their discretionary spending, limiting furniture purchases. Businesses have increasingly preserved cash and opted to postpone or cancel significant construction projects, especially after interest rates were hiked to help combat soaring inflation, causing the cost of borrowing to spike. In 2024, revenue is expected to dip by a further 3.7% to €49.3 billion. Sales to construction companies will continue to suffer, as high interest rates have led to many would-be home buyers being priced out of the market. This has weakened demand for new houses and led to property developers reducing output. At the same time, business and consumer confidence remains weak. Low consumer spending will also hinder demand from businesses like retailers and service providers (e.g. hotels and restaurants), as these businesses see demand for their own services fall as consumers cut back, slashing their own spending budgets. Over the five years through 2029, revenue is forecast to expand at a compound annual rate of 2% to reach €164.5 billion. Economic conditions will improve as inflation eases, prompting central banks to lower interest rates. As interest rates fall, the cost of borrowing will follow suit, driving up the number of people meeting the affordability criteria for mortgages and spurring new construction activity from housebuilders, which will create a greater need for new furniture. Businesses will also be more likely to undertake significant construction projects and buy new furniture, creating more revenue opportunities for furniture makers.

European furniture manufacturing revenue is slated to grow at a compound annual rate of 2.7% over the five years through 2025. A turbulent economic climate in recent years has weighed on the level of growth felt by furniture manufacturers. Challenges initially stemmed from the COVID-19 pandemic, but then worsened with inflationary pressures. Macroeconomic headwinds weakened demand for new construction projects across most European countries in 2023 and 2024, reducing the number of new spaces that required furnishing. Businesses have increasingly preserved cash and opted to postpone or cancel significant construction projects, especially after interest rates were hiked to help combat soaring inflation, causing the cost of borrowing to spike. This dampened demand for furniture manufacturers, causing revenue growth to stagnate. Inflationary pressures also weakened disposable incomes and caused people to cut their discretionary spending, limiting furniture purchases. In 2025, revenue is expected to rise slightly by 0.9% to €175.8 billion. Revenue growth is being supported by the improving global economic climate, with easing inflation and falling interest rates. This is helping to lift consumer confidence, albeit cost of living pressures are still on the mind of consumers, and this is helping to slowly lift spending on furniture in faster growing European countries like Spain. Construction activity is also picking up in Spain and Eastern Europe, with building permits on the rise once again. More commercial and residential building will help to boost demand for furniture from new homeowners and corporate companies looking to fit out their offices. Still, in countries like Germany, the construction sector has a long road to recovery, which is continuing to subdue revenue growth in 2025. Over the five years through 2030, revenue is forecast to expand at a compound annual rate of 4.7% to reach €221.7 billion. The European economy is forecast to continue to improve as inflation eases, prompting central banks to lower interest rates. As interest rates fall, the cost of borrowing will follow suit, driving up the number of people meeting the affordability criteria for mortgages and spurring new construction activity from housebuilders, which will create a greater need for new furniture. Businesses will also be more likely to undertake significant construction projects and buy new furniture, creating more revenue opportunities for furniture makers.

European furniture manufacturing revenue is slated to contract at a compound annual rate of 4.6% over the five years through 2024. Weak economic conditions, initially stemming from the COVID-19 pandemic but then worsened by the cost-of-living crisis, has weakened demand for new construction projects, reducing the number of new spaces that require furnishing. While builders saw a post pandemic boom in renovation activity, inflationary pressures weakened disposable incomes and caused people to cut their discretionary spending, limiting furniture purchases. Businesses have increasingly preserved cash and opted to postpone or cancel significant construction projects, especially after interest rates were hiked to help combat soaring inflation, causing the cost of borrowing to spike. In 2024, revenue is expected to dip by a further 3.7% to €49.3 billion. Sales to construction companies will continue to suffer, as high interest rates have led to many would-be home buyers being priced out of the market. This has weakened demand for new houses and led to property developers reducing output. At the same time, business and consumer confidence remains weak. Low consumer spending will also hinder demand from businesses like retailers and service providers (e.g. hotels and restaurants), as these businesses see demand for their own services fall as consumers cut back, slashing their own spending budgets. Over the five years through 2029, revenue is forecast to expand at a compound annual rate of 2% to reach €164.5 billion. Economic conditions will improve as inflation eases, prompting central banks to lower interest rates. As interest rates fall, the cost of borrowing will follow suit, driving up the number of people meeting the affordability criteria for mortgages and spurring new construction activity from housebuilders, which will create a greater need for new furniture. Businesses will also be more likely to undertake significant construction projects and buy new furniture, creating more revenue opportunities for furniture makers.