HIGH POINT, NC – New orders of residential furniture in September were 12% less than Sept. 2007, according to the most recent survey by consulting and accounting firm Smith Leonard PLLC. On the other hand, orders were up 15% from August. September marked the fourth straight month that orders decreased by double digits, compared to the same month a year ago.
Year-to-date, new orders remained 10% less than the first nine months of 2007. The first nine months of 2007 orders were 4% less than the same period in 2006. Consistent with August results, approximately 86% of the participants have reported lower order rates year-to-date for 2008.
Shipments for September 2008 were 14% lower than Sept. 2007, but were up 3% from August. Year-to-date, shipments fell to 10% less than the same period a year ago, up from 9% in August. Shipments declined year-to-date for 84% of the participants. Backlogs improved 3% over August as orders exceeded shipments.
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