From Home Furnishing Business
Smith Leonard: Furniture Orders Up 7% in September
New orders in September 2019 rose 7% over September in 2018, according to Smith Leonard’s latest survey of residential furniture suppliers.
While this increase is substantial, the survey notes that orders have been choppy in 2019 and year-to-date orders have declined 1% over last year and only 64% of participants reported increased orders for September 2019. Year-to-date, new orders were down for 70% of participants.
The survey also showed shipments in September 2019 increased 6% over September 2018. The September increase pushed year-to-date shipments even with last year, but only 55% of the participants reported increased shipments.
Backlogs in September were up 7% over August and 5% higher than September a year ago. Receivable levels remained in line, about even with last year and in line with shipments year to date. Inventories remained high but dropped to a 12% increase over September 2018, down from a 14% increase reported last month.