Furniture factory orders rise 5% in June

U.S. furniture factory orders in June were up 5% from a year earlier, keeping pace with the results for the first half of the year, according to Smith Leonard.

U.S. furniture factory orders in June were up 5% from a year earlier, keeping pace with the results for the first half of the year, according to Smith Leonard.

 

New orders increased in June for 65% of the participants in the accounting and consulting firm’s factory survey. About 60% of the participants reported an increase for the first half of the year.

 

Factory shipments, which usually lag orders, were up 4% in June. For the year to date, shipments were up 6%.

 

“We do see that the upholstery business seems better than case goods, but overall we are pleased to see the consistent improvement in orders and shipments,” Ken Smith, managing partner of Smith Leonard, said in his monthly Furniture Insights newsletter.

 

He noted that consumer confidence continues to improve, with The Conference Board’s Consumer Confidence Index rising 2.1 points to 92.4 in August.

 

Housing continues to improve as well, and the overall economic picture seems good for business, he said.

 

“In spite of this, retail sales do not seem to be growing as fast as we might expect,” Smith said.

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