HIGH POINT, NC – According to the latest Furniture Insights report from accounting and consulting firm Smith Leonard PLLC, new orders for August fell 16% from August 2007. This marked the third month in a row that orders were down double digits. Approximately 83% of the participants reported declines in orders, and several reported significant double digit declines. The decline in August pushed the year-to-date decline up to 10% for the first eight months.
Shipments were also down 16% in August compared to August of 2007. Year-to-date, shipments declined 9% from the prior year period and were up from 8% last month.
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