HIGH POINT, N.C. – Residential furniture orders fell flat in January 2017, according to a new report by Smith Leonard. Following an increase in November and December 2016 of 8 percent and 11 percent respectively, just over one-half of the participants surveyed reported increased orders for January.
Although shipments fell 19 percent from December 2016, they were up 2 percent over January of the prior year. and down 19 percent from December.
Receivable levels were up 3 percent from January 2016 and inventories were up 3 percent from December but down 3 percent from the same period the previous year. According to the report, overall, inventories seem in line, but should be monitored.
Factory and warehouse employees were down 2 percent from last January down from a 1 percent decline reported last month, but were up 1 percent from December. Factory and warehouse payrolls were up 6 percent from last year, but the increase fell from a 9 percent increase reported last month.
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