US furniture industry records order decline in October

28.01.2020 − 

In October US furniture manufacturers in the residential sector were confronted by an 8% decline in orders to US$2.369bn. This information emerges from the survey published on a monthly basis by Smith Leonard. At US$2.351bn, in the reporting month orders in hand virtually stagnated at the level of the previous year following three consecutive increases. With regard to turnover, in contrast, an increase of 2% to US$2.320bn was achieved.

Accumulated over the first ten months, turnover remained stable vis à vis the comparative period in the previous year at US$23.585bn. The increases achieved in October, September (+6%), July (+1 %) and January (+14%) compensated for the declines recorded in the other six months. Incoming orders as of the end of October decreased by 2% to US$23.899bn. In this connection increases were also only recorded in January (+8%), July (+6%) and September (+7%), whereas incoming orders declined in the other months. Overall, 73% of the companies participating in the survey stated that they recorded a decline in orders from January to October.

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