18 June 2024, 05:59
By Furniture News Jul 26, 2021

BFM expects supply challenges to ease this year

Global supply capacity is expected to recover later this year, according to figures examined by British Furniture Manufacturers (BFM) in the latest economic update.

However, challenges to meet rising demand – including supply disruption and labour shortages exacerbated by the ‘pingdemic’ – are expected to continue in the near-term.

Supply chains, labour shortages and consumer confidence were all examined by BFM MD Nick Garratt as part of the association's Monthly Economic Review. He says: ““The furniture industry continues to benefit from strong demand, with strong retail sales volumes reflecting the easing of coronavirus restrictions. The home continues to be a major beneficiary, whilst restrictions on travel and experiences limit consumer spending in these areas.

“The major threat to businesses continues to be cost and supply based - both labour and materials.”

The BFM Monthly Economic Review can be accessed here.

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