HIGH POINT, NC – According to the latest Furniture Insights, the monthly newsletter from accounting and consulting firm Smith Leonard PLLC, new orders of furniture for April 2008 were 8% less than orders reported in April 2007.
New orders for April were down 3% from March. Approximately 71% of the survey participants reported lower orders comparing April to April results. Year-to-date, new orders remained 8% lower than the first four months of last year. Approximately 86% of the participants are now reporting lower orders than last year.
Shipments in April were 5% less than April 2007 and down 9% from March 2008. Shipments in April 2007 were off 4% from April 2006. Year-to-date, shipments remain 7% less than the first four months of 2007. Receivable levels dropped 5% from last April in line with the shipments decline, but increased 1% from March.
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