NEW YORK, NY -- BDO Seidman released the results of its monthly survey of residential furniture manufacturers and distributors through April 2006. New orders fell 13% from April 2005 and were down 26% from March. Shipments fell 6% in April compared to April 2005. Backlogs fell to 6% from March of this year and were 3% lower than April 2005. Receivables only fell 1% from last April, and inventories were up 1% from March levels.
Factory payrolls declined 13% in April, compared to April 2005 and were down 16% from March. Year-to-date, factory payrolls are down 7% compared to 5% for the first three months.
According to the report, the second half of the year is expected to improve over 2005 by approximately 5%. Read more.
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