HIGH POINT, NC -- New residential furniture orders in June increased 9 percent over orders in June 2009, according to the most recent survey of manufacturers and distributors by Smith Leonard, an accounting firm specializing in the furntiure industry.
This compares to a 16 percent decline when comparing June 2009 to June 2008, the firm reported in its August Furniture Insights newsletter.
Approximately 64 percent of the participants reported increased orders for the first half, with several others down only 1 to 2 percent.
Shipments in June were 13 percent higher than June a year ago, apparently catching up a bit on some of the backlog increases, Smith Leonard said. Shipments in June 2009 were 19 percent below June 2008, so June 2010 was still considerably lower than June 2008. Some 67 percent of the participants reported increases in shipments, with some up substantially.
The August Furniture Insights is posted at smithleonardcpas.com.
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