Daily News
From Home Furnishing Business
Smith Leonard: Furniture Orders Down 20% in February
May 9,
2022 by Laurie Northington in Business Strategy, Industry 
New orders in February were down 20% from February 2021 but 2021 orders were up 34% over February 2020, according to a report from Smith Leonard accounting and consulting firm.
The firm’s monthly survey of residential furniture manufacturers and distributors show new order decreases 75% of the participants.
Shipments in February were flat compared to February 2021, bringing year-to-date shipments to a 1% decline. Backlogs were up 35% over February 2021 down from 43% reported in January.
Receivable levels remained in good shape considering shipment levels. Inventories increased 32% over last year when they were up 15% over February 2020.