From Home Furnishing Business
Smith Leonard: Furniture Orders Down 3% in August
After the pick-up of orders in July, new orders in August slipped 3% from August 2018 and 2% year-to-date, 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 decreased for 67% of the participants for the month. Year-to-date, new orders were down for 73% of the participants.
The survey also showed shipments in August 2019 dropped 6% over August 2018. The August decline pushed year-to-date shipments into a decline of 1% compared to the same period a year ago.
Backlogs in August remained at about the same levels as July but were up 3% over August 2018. Receivable levels got back in line, declining 1% from August 2018. Inventory levels increased again, rising 5% from July and 14% over August 2018.