Smith Leonard’s latest Monthly Furniture Insight survey of residential furniture manufacturers and distributors reported November was another month of continuing improvement. New orders were up 17% year-over-year in November. Continuing a six-month string of steady to strong improvements. The November increase left the year to date increase at 14%. For the 11 months ended November, some 66% of the participants reported increased year to date orders, up from 59% reporting increases last month. With new orders exceeding shipments backlogs continued to climb, ending November 2020, 148% higher than November 2019. In October 2020 back-orders were 141% higher year-over-year.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.