Sept. factory orders dip 2%; shipments slip 5%
By Furniture Today Staff -- Furniture Today, December 9, 2007
High Point — Furniture factory orders in September were down 2% from the same month a year earlier, while shipments dropped 5%, according to Smith Leonard's monthly survey.
"With the impact of timing of import shipments, shipments no longer seem to follow orders in any given month," said Ken Smith, managing director of the High Point-based accounting and consulting firm.
About 68% of the U.S. residential furniture manufacturers taking part in Smith Leonard's monthly survey reported lower orders in September than a year earlier, and 74% reported lower shipments.
For the year through September, orders were running 4% behind the 2006 pace and shipments were down 5%.
In his monthly Furniture Insights newsletter, Smith noted the industry continues to struggle with recent announcements of retail failures, the soft housing market and likely price increases on Chinese product.
However, he cited a National Assn. of Realtors report that maintained the data on the housing industry show the downturn is not as bad as the media portrays it.
"The same can be said for the furniture industry," he said, noting that 32% of factories did report order gains in September and that people are still buying furniture.
"The key is getting your share," Smith added.
"Unfortunately, in these times, getting your share will mean taking someone else's share," he continued. "In this case, we do not yet have a rising tide that is lifting all boats."
| Factory orders, shipments in September | |||
|---|---|---|---|
| In billions of dollars | |||
| Change from | |||
| Aug. '07 | Sept. '06 | ||
|
Source: Smith Leonard
|
|||
| Orders | $2.216 | 14% | -2% |
| Shipments | 2.158 | 3% | -5% |
| Order backlog | 1.587 | 1% | -4% |
| Jan.–Sept. | Change from 2006 | ||
| Orders | $18.789 | -4% | |
| Shipments | 18.831 | -6% | |
-
U.S. factory orders, shipments down 17% in March
Jun 15, 2009 -
June factory orders down 16% from '08
Sep 7, 2009 -
Dec. factory orders rise 12%
Mar 29, 2010 -
Factory Orders Rise 8% in July
Oct 12, 2011
Featured Company
-
Brandwise Inc.
Brandwise serves a model - not just an industry - by integrating, automating, and optimizing the entire sales channel, from wholesale Suppliers to their Reps and the Retailers they service. In short, our software helps Reps and Suppliers sell more and create... more
VIEW ALL GALLERIES
