HIGH POINT – New orders of residential furniture fell 6% in June, compared to June 2006, according to the latest survey from accounting and consulting firm Smith Leonard. New orders in June were 9% higher than in May, which was caused by some of the timing of market orders, the study says. Approximately 83% of the residential furniture manufacturers and distributors surveyed reported decreases in new orders for the month of June compared to last year. For the first half of 2007, new orders were 5% less than the same period last year.
Shipments in June were 6% less than June 2006, but 6% more than May. Year-to-date shipments were 7% lower than the first half of last year. Backlogs fell 4% from May, as shipments exceeded new orders and backlogs were 7% lower than last June.
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