HIGH POINT, NC- New orders in June 2015 increased 10 percent over July 2014 orders and were down from May 2015, according to the latest survey of manufacturers and distributors by High Point accounting and consulting firm Smith Leonard. In June 2014, there was a 5 percent increase in new orders over the previous year.
According to the latest issue of Furniture Insights, the 5 percent year-to-date increase in orders is ahead of last year's first six months. 53 percent of the participants reported increased orders year-to-date, about the same as reported last month.
Shipments for June 2015 rose 6 percent from June 2014 and just edged out May 2015 . "For the month, shipments were higher for some 61 percent of the participants, down from 69 percent reporting increases last month," said Ken Smith, managing partner of Smith Leonard.
Inventory levels increased 6 percent higher than in June 2014, and were up 1 percent over May 2015. According to Ken Smith, "inventories continue to appear to be in good shape overall considering current levels of business."
Factory and warehouse employees were 2 percent higher than reported in June 2014. This same increase was reported last month. June 2014 levels were up 6 percent over June 2013. "we have seen nice increases in the numbers of employees," said Ken Smith.
Factory and warehouse payrolls were up 3 percent over May 2015 levels and were up 9 percent compared to June 2014. Year-to-date payrolls were up 6 percent over the first half of last year, the same as reported last month.
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