US furniture industry also records declines in June

US furniture manufacturers in the residential sector in June were again unable to slow down the negative development in turnover and incoming orders, which has started in February.

In accordance with the monthly survey held by consulting company Smith Leonard, turnover decreased by 4% to US$2.550bn. What is more, the amount of incoming orders declined at a more significant rate of 6% to US$2.384bn in June. In its turn, orders also decreased by 5% to US$2.044bn and thus declined for the second time over the course of the year so far.

Accumulated during the first six months, incoming orders fell by 3% to US$14.056bn in comparison with the similar period of 2018. As for June, turnover – at US$14.152bn – remained at almost the same level as the year before.

Information provided according to www.euwid-wood-products.com