HIGH POINT – According to the latest Furniture Insights report from accounting and consulting firm Smith Leonard PLLC, new orders of residential furniture were down 8% in November 2007 compared to November 2006.
New orders for November 2007 were 11% less than October 2007. Orders for the first 11 months of 2007 were 4% less than the same period of 2006. Shipments for November 2007 were 5% less than November 2006 and 4% less than October 2007.
Shipment rates for the first 11 months in 2007 was 5% less than the prior year period. Receivables for November 2007 were level with November 2006 and down 2% from October 2007.
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