HIGH POINT, NC - Residential furniture orders grew 2% in March compared to the same period a year ago, slowing down from the double-digit growth it exhibited in the first two months of the year, according to Smith Leonard, an accounting firm specializing in the furniture industry.

Smith Leonard noted that about 56% of the furniture retailers and distributors participating in its monthly survey reported increased orders in March. Furniture orders for the first quarter of 2012 are running 8% ahead of the first quarter of 2011, Smith Leonard added.

Meanwhile, shipments increased 7% in March 2012 compared to March 2011, with approximately 60% of survey participants reporting increased shipments over the prior year,