Furniture orders down 5% in November
Orders were still sagging at U.S. residential furniture factories in November, down 5% from the same month a year earlier, Smith Leonard reported.
HIGH POINT — Orders were still sagging at U.S. residential furniture factories in November, down 5% from the same month a year earlier, Smith Leonard reported.
New orders in November 2009 were up 10% from November 2008, so at least this year's decline was against a strong month the previous year, the accounting and consulting firm said.
Ken Smith, managing partner of Smith Leonard, said in his monthly Furniture Insights newsletter that the fourth quarter "clearly slowed from the momentum that was built up in late 2009 and early 2010."
Some 80% of the participants in the firm's monthly factory survey said their orders in November were down from a year earlier.
Factory shipments, which tend to lag orders, were even with November 2009. About half of the survey participants reported increased shipments, Smith Leonard said.
For the year through November, orders were up 4% and shipments were up 7%.
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