Furniture orders are rising, but at a slower rate.
Orders for new furniture continued to rise in March, though at a slower pace, according to the latest survey of manufacturers by High Point accounting and consulting firm Smith Leonard, PLLC .
New orders in March were up 2 percent over March of 2011, and by 1 percent from February. The survey had been finding double-digit year-over-year increases since September of last year.
Reflecting those recent sales, shipments of completed orders were up 7 percent in March compared to last year. The number of factory employees was up 6 percent from a year ago, but was flat from February. Overall payrolls were up 7 percent from 2011 and 12 percent from February.
Survey author Ken Smith said he's been hearing reports of "softness" in orders starting in late March and going into April. Most in the industry seem to think business is "bumping along."
"The good news is that most companies have adjusted to these conditions. They also have adjusted staffing and spending levels to current business levels and with just a little bump in business, can make some money," he said.
Matt Evans covers biotech, entrepreneurship, higher education, financial services and furniture. Contact him at (336) 370-2916.
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