Furniture orders still falling
Orders for new residential furniture were down by 11 percent in March from a year earlier, according to a survey of manufacturers and distributors by High Point accounting and consulting firm Smith Leonard.
While orders were up 2 percent from February, that month-to-month increase was smaller than it usually is, the survey said. Year to date, new orders are 8 percent lower than they were in 2007.
The number of factory employees, meanwhile, fell by 1 percent from February and by 7 percent from last March. Total payrolls were higher in March from February but are down by 10 percent year-to-date this year.
Next month’s survey results may see some improvement as orders from the April High Point Market are picked up, according to survey author Ken Smith. But he added that there are few if any signs of any sustainable improvements for the industry coming soon.
Tags: accounting, arc, consulting firm, factory employees, fir, furniture, furniture orders, high point market, ken smith, leo, residential furniture, signs, smith leonard, survey author, survey results, sustainable improvements, urn, whRelated posts
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