July factory orders down 16%
By Furniture Today Staff -- Furniture Today, October 12, 2009
HIGH POINT — U.S. residential furniture factory orders in July were down 16% from a year earlier, the same decline as reported in June, while the decline for the year to date held steady at 20%, according to Smith Leonard.
The accounting and consulting firm's monthly factory survey did have a bright spot — 27% of the survey participants said their orders were up from a year ago, an improvement from 15% in June.
July shipments were down 19% from a year earlier, also matching the June figure. Year-to-date shipments were down 20%.
“Some factory executives we have spoken with seem to feel that we may have hit bottom over the last few months as orders appear to be stabilizing somewhat. It is too early to tell, but at least it seems that way,” Ken Smith, managing partner of Smith Leonard, wrote in his monthly Furniture Insights newsletter.
“On the other hand,” he added, “we have not heard much about business picking up other than an occasional week here and there.”
Factory orders, shipments in July
In billions of dollars
| Change from | |||
| June '09 | July '08 | ||
| Source: Smith Leonard |
|||
| New Orders | $1.395 | -10% | -16% |
| Shipments | 1.392 | -18% | -19% |
| Order backlog | 1.234 | 6% | -13% |
| Jan-July | Change from 2009 | ||
| New Orders | $10.732 | -20% | |
| Shipments | 10.874 | -20% | |
-
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Sep 16, 2011 -
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