New residential furniture orders rose 29% compared to August 2022 figures, but the comparison can be misleading since that number was down 34% from 2021 figures.
Since 2009, Woodworking Network has paid tribute to market leaders in the wood products industry that have made an impact — not only at their own companies, but also on the industry as a whole. Represented are persons from all segments of the secondary woodworking industry, including: residential furniture, contract/office furniture, cabinets, closets/home storage, store fixture, architectural woodwork, window and door, and wood components.
New residential furniture orders in July 2023 were up 28% over July 2022, according to a new report from Smith Leonard, which produces the monthly Furniture Insights newsletter.
TEMPE, Ariz. — Economic activity in the manufacturing sector contracted in September for the 11th consecutive month following a 28-month period of growth, say the nation's supply executives in the latest Manufacturing ISM Report On Business.
Furniture & Related Products and Wood Products were two of the 11 industries that contracted in September.
Of the six biggest manufacturing industries, two — Food, Beverage & Tobacco Products; and Petroleum & Coal Products — registered growth in September.
Pending home sales slid 7.1% in August, according to the National Association of Realtors.
According to the NAR, all four U.S. regions posted monthly losses and year-over-year declines in transactions.
The global cabinet market is expected to grow by $22.57 billion from 2022 to 2027, according to a new market research survey. However, the growth momentum of the market will progress at a CAGR of 5.73% during the forecast period.
June residential furniture orders were up 23% over 2022 figures, however June 2022 was actually down 39% from 2021, according to the analyst firm. Year to date, new orders were down 8% compared to the same period in 2022.
According to second quarter 2023 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area declined to 2,191 square feet, the lowest reading since the end of 2010.
The North America garage furniture market was valued at $708.9 million in 2021 and as per a research study by Astute Analytica, the market is projected to be at a CAGR of 2.4% during the forecast period of 2022-2027. The market is holding an opportunity of $107.4 Million over the forecast period, according to the report.