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From Home Furnishing Business

Smith Leonard: Furniture Orders Down 20% in September, Up 15% from 2019

At first glance, the September 2021 results look alarming with orders down 20% from September 2020 but September 2020 orders were up 43% from 2019. Comparing 2021 to 2019, September orders are up 15%, according to a report by Smith Leonard accounting and consulting firm.

The firm’s monthly survey of residential furniture manufacturers and distributors showed year-to-date, new  orders were up 21% over 2020 and up 32% over the first nine months of 2019.

Shipments were only up 4% over last September, but year-to-date shipments were 30% higher than the same period a year ago. Shipments were up for 91% of the participants. Most of the participant’s shipments have been delayed by lack of workers to manufacture, supply chain issues for domestic manufacturers, as well as supply chain for imports, whether lack of goods or freight issues.

Backlogs were up 56% over September 2020, which were up 123% over September 2019. Receivable and inventory levels seem ok, even with inventories a bit high. The number of factory and warehouse employees continues to be an issue or rather the lack of those employees.

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