Woodworking Industry News

Furniture industry reports largest industry contraction; wood products reports third most contraction

TEMPE, Ariz. -- Furniture industry orders contracted the most of overall industries, and wood products manufacturers ranked third in terms of contraction in September 2022 compared to August. In addition, while economic activity in the manufacturing sector grew in September, with the overall economy achieving a 28th consecutive month of growth, the overall Manufacturing PMI dropped to its lowest level since May 2020, according to the latest Manufacturing ISM Report On Business.