Economics
US Furniture Glut Emerging as Demand Falls, Housing Market Slows
Customers shop for living room furniture at a store in Louisville, Kentucky.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
US consumers looking to furnish their homes or apartments with new dining- and living-room sets may want to hold off for a while longer.
That’s because a report from the Commerce Department on Wednesday showed wholesale inventories of furniture are piling up as sales dropped for a second month. Excluding the pandemic, the wholesale inventory-to-sales ratio for furniture and home furnishings increased to a record.