Daily News
From Home Furnishing Business
Survey Says: Furniture Factory Orders Rise 8% in May
August 1,
2017 by Larry Thomas in Economic News, Financial Reports, Industry 
Factory orders for residential furniture in May were 8% above May 2016 – the fourth straight monthly increase reported by the Smith Leonard accounting and consulting firm.
The firm’s monthly survey of manufacturers also reported a 7% increase in shipments in May, and an 11% jump in the order backlog.
According to Smith Leonard, 58% of survey participants reported an increase in May, up from just 47% in April.
“We noted last month that we had heard that business had slowed since Memorial Day, so we were a bit surprised that the results for manufacturers and distributors were as positive as they were,” Smith Leonard partner Ken Smith wrote in a newsletter accompanying the survey results.
Smith noted that while the furniture business hasn’t been as robust as many expected this year, profitability was up for all participants in the annual operating survey recently completed by the firm.
“So life is not all bad. We have had several good, or at least decent growth years in a row,” he wrote. “Maybe we are just expecting too much.”