Daily News
From Home Furnishing Business
Smith Leonard: Furniture Orders Down 3% in May
August 1,
2019 by Laurie Northington in Economic News, Industry 
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.