From Home Furnishing Business
Survey: Furniture Factory Orders Rise 11% in November
Furniture factory orders posted a strong increase for the second consecutive month in November, rising 11% from the previous November, according to a monthly survey from the accounting and consulting firm Smith Leonard.
The November jump followed an 8% jump in orders in October.
The survey data indicates a rebound from September, when orders were down 10%, and August, when they were up just 1%.
In addition, shipments in November were 4% ahead of the previous November, and backlogs rose 1%.
For the first 11 months of 2017, the survey showed that both orders and shipments were 5% ahead of the first 11 months of 2016.
“While not robust, the growth rate is a pretty good pace,” said Ken Smith, a Smith Leonard partner and author of the firm’s Furniture Insights newsletter. “While still not good for all participants, those experiencing declines for the most part are at levels that can be dealt with.”