December 2022 Furniture Insights

Furniture World Magazine
January 5, 2023
Category: Finance & Economics
Region: United States

According to our latest survey of residential furniture manufacturers and distributors, 88% of the participants reported a decline in new orders in October 2022, resulting in a 30% decline from October 2021. October 2021 orders were down 18% from 2020, but 2020 October orders were up 40% over 2019. As we have said in the past, comparisons in today’s environment are very difficult to make sense of, other than to say, business seems to have slowed more than expected from the fast days of late 2020 and all of 2021. Year to date, new orders were down 29% from 2021 when orders were up 16% over 2020. Some 91% of the participants reported lower year to date orders versus year to date 2021. Shipments in October were up 2% over October 2021. …Backlogs in October fell 8% from September and are now down 47% from October a year ago.

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