HIGH POINT, NC – New furniture orders for November 2009 increased 10% compared to the same time frame in 2008, according to the most recent survey by Smith Leonard PLLC, an accounting financial consulting firm.
“This followed the October results which showed orders flat with the previous October, being the first month since October 2007 where new orders were not lower than the previous year.
“Admittedly, the November 2009 compares to November 2008 when orders were down 23% from November 2007, but we had been hoping that we would not continue to see declines in the final three months of the year. Last year, the final quarter results had decreases in orders of over 20% each month. Smith Leonard also reported that furniture shipments were off 1% in November 2009 compared to November 2008.
“This was the first month that shipments were off less than 10% since June 2008. Shipments were 4% higher than October, but obviously have not yet caught up with the increase in orders. November 2008 shipments were 21% lower than November 2007 shipments.”
View current issue of Smith Leonard's Furniture Insights.
“This followed the October results which showed orders flat with the previous October, being the first month since October 2007 where new orders were not lower than the previous year.
“Admittedly, the November 2009 compares to November 2008 when orders were down 23% from November 2007, but we had been hoping that we would not continue to see declines in the final three months of the year. Last year, the final quarter results had decreases in orders of over 20% each month. Smith Leonard also reported that furniture shipments were off 1% in November 2009 compared to November 2008.
“This was the first month that shipments were off less than 10% since June 2008. Shipments were 4% higher than October, but obviously have not yet caught up with the increase in orders. November 2008 shipments were 21% lower than November 2007 shipments.”
View current issue of Smith Leonard's Furniture Insights.
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