The Greek furniture industry suffered a 19.2 per cent decline in its production volume in the first seven months of 2011, after shrinking by 14.3 per cent in the same period last year.
The industry is 48 per cent down compared with production levels in 2005. An analysis of data published by the Hellenic Statistical Authority showed that production of furniture parts (excluding chairs) fell 30.3 per cent, metallic frame chairs by 36.2 per cent, wooden frame chairs by 25.1 per cent, and kitchen furniture by 21.4 per cent in the January-July period this year, compared with the corresponding period in 2010.
Industry executives said this trend reflects a decline in domestic demand due to a deep economic recession in the country. Production levels fell 10.1 per cent in January, by 14.2 per cent in February, 22.2 per cent in March, it was down 16.2 per cent in April, it fell 16.3 per cent in May, by 20.8 per cent in June and by 13.3 per cent in July. Turnover on a monthly basis fell by 10.1 per cent in January, 16.7 per cent in February, 26.1 per cent in March, 16.9 per cent in April, by 11.7 per cent, it fell by 24.9 per cent in June and 18.6 per cent in July. Workforce in the sector fell by 2,356 in the seven-month period to 27,988, a decline of 7.8 per cent.
Source: Athens News
