HIGH POINT, NC - New orders for residential furniture increased 4 percent in July compared to a year earlier, according to the latest survey of manufacturers and distributors by High Point accounting and consulting firm Smith Leonard.
This marks the fifth straight months that year-over-year factory orders have increased. Year-to-date, new orders also remained 5 percent ahead of last year, according to the latest issue of Furniture Insights, a monthly publication of Smith Leonard.
"From the sale of furniture products,we continue to move along pretty well on an overall basis. Upholstery continues to outperform case goods, generally speaking," noted Ken Smith, managing partner at Smith Leonard.
Shipments for July were up 11 percent over the previous year, but were down 11 percent compared to June figures, though much of that can be attributed to holiday shutdowns, the report notes. Meanwhile, year-to-date shipments were up 6 percent over 2013 figures.
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