HIGH POINT, NC - New orders for residential furniture increased 7 percent in January compared to a year earlier, according to the latest survey of manufacturers and distributors by High Point accounting and consulting firm Smith Leonard.
"New orders have been positive compared to the previous year, 12 consecutive months and 22 of the last 23 months," said Ken Smith, managing partner at Smith Leonard. Overall, approximately 70 percent of those reporting in this latest survey said they had increased their orders.
Shipments for January were up 10 percent compared to last year's figures, with 63 percent of participants indicating growth. Backlogs were up 16 percent over 2014, but down 1 percent from December's figure, according to the latest issue of Furniture Insights, a monthly publication of Smith Leonard.
"Though the stock market has been somewhat volatile, overall most of the things that make furniture move have been positive. While not everyone is doing great, our surveys recently seem to show that the industry is moving along nicely," Smith added.
Have something to say? Share your thoughts with us in the comments below.