Daily News
From Home Furnishing Business
Smith Leonard: Furniture Orders up 51% in August
October 30,
2020 by Laurie Northington in Business Strategy, Industry 
Demand for product continued to be high in August with new orders up 51% from August 2019, following a 39% increase reported for July and 30% in June, according to a report by Smith Leonard accounting and consulting firm.
The firm’s monthly survey of residential furniture manufacturers and distributors showed new orders increased for 88% of the participants for the month. Year-to-date orders are up 6%, but only 34% of the participants are in the positive.
The survey also showed shipments in August 2020 were up 3% over August 2019, but down year-to-date for 85% of participants. Backlogs were up 19% in August 2020 compared to July 2020 and 102% higher than August 2019
Shipments were up 3% over August 2019 as participants are having a hard time either ramping up domestic production or importers are having trouble ramping up production overseas as well as getting containers to flow. Year to date, shipments remain 11% below last year, but down from a 14% decline reported last month. Shipments year to date were down for 85% of the participants.
Backlogs were up again in August rising 19% from July to a 102% increase over August 2019. Receivable levels remain in apparent good shape considering shipment levels and inventories held steady in August as shipments are still lagging behind due to lack of inventories.