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From Home Furnishing Business

Smith Leonard: Furniture Orders Down 3% in May

New orders in May were down 3% from May 2018 and 3% year-to-date. The decline in orders in May was the fourth consecutive month of declining orders, according to a report by the Smith Leonard accounting and consulting firm.

The firm’s monthly survey of residential furniture manufacturers and distributors showed new orders increased for only 41% of the participants for the month. Year-to-date, new orders were down for 64%  of the participants.

The survey also showed shipments in May 2019 dropped 3% over May 2018. Year-to-date shipments were up only 1%.

Backlogs in May were up 1% over April but down 2% from May 2018. Receivable levels were up 5% over May 2018. Inventories remained at high levels, up 12% over May 2018.

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