Furniture orders still dropping
New orders for furniture were down 2 percent in September compared to a year earlier, according to an industry survey from High Point accounting and consulting firm Smith Leonard.
The good news in the survey was that September did see the usual bounce from the slow August sales season, with new orders up 14 percent month-to-month. The year-to-year decline was also slower that last year, when September orders were 10 percent lower than in 2005.
Shipments of completed orders in September were 5 percent lower than a year earlier, and 3 percent higher than in August.
For the year to date, new orders are 4 percent behind last year’s pace, and shipments are down by 6 percent.
The industry continues to shed workers. The number of factory employees in September was down 10 percent compared to 2006, though even from August of this year.
