Factory orders rise 9% in June
Furniture Today Staff -- Furniture Today, October 7, 2013
HIGH POINT - Furniture factory orders jumped 13% in July, marking the fourth straight month that orders were above the same month in 2012.
Data compiled by the Smith Leonard accounting and consulting firm also showed that July shipments were 9% above July 2012, while order backlogs were 12% ahead of the comparable month.
For the first seven months of this year, orders were 6% ahead of the same period last year, while shipments were up 4%.
"While consumer confidence has slipped a bit, the economic indicators still look good for the near future," Smith Leonard Managing Partner Ken Smith wrote in a newsletter accompanying the monthly data. "Housing continues to improve both in sales and values."
Smith urged manufacturers and distributors to pay close attention to regional differences in the housing numbers.
"Depending on which regions you are selling to both at retail and wholesale, housing is not the same all across the country," Smith wrote. "Focusing on some of the faster growing regions may pay off in the coming months."
He noted that retail sales trends remain positive, while consumer prices continue to be reasonable.