15% jump in December puts factory orders up 8% for year

Furniture Today Staff -- Furniture Today, March 19, 2012

HIGH POINT - New furniture orders in December were 15% above December 2010, marking the fourth consecutive month of double-digit increases for manufacturers and distributors surveyed for Smith Leonard's monthly Furniture Insights newsletter.
     The accounting and consulting firm's survey also found that December shipments were 17% above the same month in 2010, and the order backlog jumped 24%.
     The newsletter said the December jump meant that orders for the full year were 8% ahead of 2010. Plus, approximately 67% of the survey participants reported increased orders for the year, and many of those reporting declines said the drop was less than 5%.
     "The results of our most recent survey were encouraging," wrote Smith Leonard managing partner Ken Smith. "All in all, we think 2011 was a pretty decent year for the residential furniture business."
     For the full year, shipments were 5% ahead of 2010, according to the survey.
     "Certainly, business could be better, but we think we have come a long way from the hole we were in over the last few years," Smith wrote, noting that the 2011 increase nearly brought the industry even with 2008.