Oct. orders, shipments about even, up for year
By Furniture Today Staff -- Furniture Today, January 8, 2006
High Point — U.S. residential furniture factory orders and shipments in October were about even with the same month in 2004, according to BDO Seidman.
For the first 10 months of the year, orders were running 3% ahead of the previous year's pace and shipments were up 4%, the accounting and consulting firm said.
BDO said that about 40% of the factories responding to its monthly survey said their shipments through October were up for the year, a figure that was down slightly from the previous two months.
Ken Smith, national director of BDO's Furniture Industry Services practice, said in the firm's monthly Furniture Insights newsletter that, based on conversations with manufacturers, "most indicated that September orders were really picking up, but fell off again in October."
September orders were 10% higher than in September 2004.
Smith said BDO's latest projection for 2006 is that manufacturers' shipments will grow in the 4% to 5% range.
"Unfortunately, we can expect about one-half of that growth to be related to price increases. From what we have heard, whether recent increases were permanent or surcharges, no one really expects prices to go back down," he said.
| Factory orders, shipments in October | |||
|---|---|---|---|
| In billions of dollars | |||
| Change from | |||
| Sept '05 | Oct '04 | ||
|
Source: BDO Seidman |
|||
| Orders | $2.225 | -10% | — |
| Shipments | 2.263 | -7% | — |
| Order backlog | 2.089 | -1% | -2% |
| January–October | Change from 2004 | ||
| Orders | $22.102 | 3% | |
| Shipments | 22.528 | 4% | |
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