Orders for US civilian furniture fell 37% in July
Release date: October 13, 2022 Source: Internet
Recently, Smith Leonard, a well-known American consulting company, released the latest furniture insight report. The report shows that the orders of American civilian furniture in July fell by 37% year on year. In 2021, the data in the same month of 2020 fell by 11% compared with that in the same month of 2020, while in July 2020, the data in the same month of the previous year increased by 39%. It can be seen that the order data in July 2022 still fell compared with that in the same month before the outbreak of the epidemic.
In July, only 12% of the interviewed enterprises said that their furniture orders increased, and the orders from January to July fell 29% year on year. The furniture shipment in July decreased slightly year on year. 53% of the interviewed enterprises said that their orders had increased, and the shipment has increased by 5% since the beginning of the year.
As the shipment volume was greater than the number of new orders, and many orders were cancelled, the backlog of national furniture in July decreased by 7% month on month, down 25% year on year. On the other hand, inventories remained high, up 29% over last year. However, at present, the inventory is still too high, and there are reports that the warehouses of manufacturers, distributors and retailers have excessive inventory. The agency expects inventory levels to decline. The wages of factory and warehouse employees in July were lower than those in June. Since most factories were shut down on July 4, the wage decline was normal. Since the beginning of the year, due to the slightly high employment rate, higher wages are needed to attract new employees, and the salary has increased by 16%. Overall, the number of employees in the furniture industry increased by only 1%.
