From Home Furnishing Business
Smith Leonard: Furniture Orders Up 7% in June
New orders in June were up 7% over June 2020 and year-to-date up 51% over the first half of 2020, 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 66% of the participants for the month. Year-to-date, new orders were up 95% of the participants.
Shipments in June 2021 were up 38% from June 2020, while backlogs remained extremely high at 153% over June 2020.
Most of the issues with shortages of materials, labor and imported finished goods continued to exist. While some shortages got better, others cropped up. Other indicators, receivables and inventories, seem in line. Employees and payrolls are still reflective of shortages domestically as well as in other countries.