From Home Furnishing Business
Smith Leonard: Furniture Orders Down 6% in June
New orders in June were down 6% from June 2018 and 3% year-to-date. The decline in orders in June was the fifth 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 36% of the participants for the month. Year-to-date, new orders were down for 70% of the participants.
The survey also showed shipments in June 2019 dropped 4% over June 2018. Year to date, shipments were about even with the same period last year.
Backlogs in June were down 5% from last year, 3% lower than reported last month. Receivable levels seemed to be back in line considering the above shipment levels with participants reporting receivable levels about even with last June and up 1% from May.