HIGH POINT – According to accounting and consulting firm Smith Leonard PLLC, a recent survey of residential furniture manufactures and distributors indicated that new orders fell 3% in August 2007 compared to August 2006, which was 7% lower than August 2005. Year-to-date new orders remained 4% below last year’s first eight months. Shipments in August were only off 1% from August 2006 and receivable levels fell 2% from last August.

Estimated Business Activity (Millions of Dollars)

 

2007

2006

 

August

July

8 Months

August

July

8 Months

New Orders

1,944

1,940

16,573

1,995

1,940

17,317

Shipments

2,095

1,855

16,673

2,116

1,893

17,688

Backlog

1,565

1,648

 

1,170

1,805

 

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