HIGH POINT, NC – Accounting firm Smith Leonard reported improvement for the furniture sector.
“Our recent survey of residential furniture manufacturers and distributors continued to result in more positive news,” the firm noted in its February issue of Furniture Insights. “According to the survey, new orders were 12 percent higher in December 2009 versus December 2008. December 2008 orders were 21 percent lower than December 2007 orders. While all the decline was not made up, this was at least a move in the right direction.”
Smith Leonard also noted that shipments in December 2009 were 3% higher than December 2008, the first increase reported since June 2006. “That is right — not a typo — June 2006. December 2008 shipments were 22 percent lower than December 2007, so we have a good deal of making up to do.”
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