Monthly Furniture Survey Reveals Low Numbers

Posted by MCC on November 8th, 2008 at 02:13am

The most recent monthly furniture business survey by Smith Leonard Accountants and Consultants produced grim results. The new orders for furniture in August feel 16% below the levels from August of 2007. The survey covers manufacturers of residential furniture and their distributors.

The decline in sales mark the third consecutive monthly decline. Almost 86% of participants in the survey reported much lower orders reaching double digit declines. The forecast for the next few months doesn’t appear optimistic with no increase in orders expected.

The survey also revealed a 16% decline in shipments and backlogs are seriously lower levels. Employee statistics also decline, down 3% from July and 13% from July of 2007. And, payrolls decreased 18% from just a year ago.

Under Furniture News