The analysis of the office and shop furniture hours worked in Belgium reveals a consistent downward trend from 2013 to 2023. The hours worked decreased from 3.0484 million hours in 2013 to 1.8795 million hours in 2023. The year-on-year variation shows substantial declines in several periods, particularly from 2016 to 2017 and from 2021 to 2022. Notably, there were spikes in 2015 and 2018, indicating occasional upticks despite the overall downward trend. The five-year CAGR leading up to 2023 stands at -7.9%, underscoring the overall decline in hours worked.
Looking ahead, forecasts from 2024 show further declines, with hours worked expected to drop to 1.1693 million hours by 2028. The forecasted five-year CAGR from 2024 to 2028 is -7.58%, translating to a total decrease of 32.59% over the period. These figures suggest that the downward trend will continue into the foreseeable future.
Future trends to watch for include technological advancements in office and shop furniture manufacturing, shifts in workplace dynamics post-pandemic, and potential economic fluctuations that could influence demand and consequently, hours worked in this industry.
