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TEMPE, Ariz. — Furniture orders are down according to recently released studies such as one by Smith Leonard, and the Manufacturing ISM Report On Business.
Supply chain and labor issues aside, the outlook is optimistic for both residential and commercial furniture makers.
New residential furniture orders were down roughly 26% in March compared to 2021 figures, according to the latest Furniture Insights survey. Year-to-date orders were down 21%.
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Although new orders fell 20% in February compared to 2021, it's "not all that bad" considering 2021 figures were up 24% over February 2020, the last month before the pandemic set in, said Ken Smith, managing partner at Smith Leonard.