HIGH POINT, NC –New orders fell in May by 13% compared to May 2006 order levels, according to Furniture Insights, the monthly survey of residential furniture manufacturers and distributors, conducted by consulting and account firm Smith Leonard PLLC. April 2007 levels were up 12% over the previous April. Smith Leonard says it suspected that the increase was primarily attributable to the timing of the High Point Market since Market was in April in 2007 and ended in May 2006.

The overall decline for the two months brought the year-to-date totals to a decrease of 5%, up from the 4% levels in March and February. Year-to-date, approximately 65% of the participants reported decreased order levels, which was up from 60% at the end of March.

Shipments in May were down 7% versus May 2006, but were up 2% over April. Year-to-date, shipments remained 7% below last year. Receivables fell 1% from April, despite the increase in shipments. Compared to May 2006, receivables were down 5%, compared to the 7% decline in shipments for the month and year to date.