USA: order increase in June for furniture manufacturers

18.09.2020 − 

In June, incoming orders for US furniture manufacturers in the residential sector increased by 30% to US$3.088bn. According to Smith Leonard, the increase was higher than expected. Although a positive development was anticipated for June following three consecutive declines (March: -29%, April: -61%, May: -8%), such significant growth had not been foreseeable. At 73%, almost three-quarters of the companies recorded increases in incoming orders. Orders in hand had been up 13% in May, and in June the level of the preceding year was exceeded by 32% with US$3.001bn.

Turnover, on the other hand, fell by 7% in June to US$2.359bn and therefore declined for the fourth time in succession. The most significant decline was recorded in April (-50%), followed by May (-31%) and March (-11%). Turnover had also declined in January (-3%). Thus, during the first half year, an increase in turnover was achieved exclusively in February (+4%).

Accumulated over the first six months, turnover declined by 21% to US$11.125bn and incoming orders fell 16% to US$11.813bn.

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