Orders up 6% year to date and 3% year over year in our latest Furniture Insights. Consumer confidence is also down, but most likely due to the temporary shock of the government shutdown. Overall, 2018 appears to have been a good year in the furniture industry.
Positive results continue for the furniture industry. According to our latest survey of residential furniture manufacturers and distributors, new orders year to date are up 6% with September orders up 9% over September 2017.
The news is still positive for the home furnishings industry, as orders are up 9%, which follows 3 consecutive months of 5% increases in our latest Furniture Insights survey of residential furniture manufacturers and distributors.
More good news with orders up 5%, according to our recent survey of residential furniture manufacturers and distributors. This increase marks the third straight month that orders were up 5% over the same month a year ago. Year to date, new orders remained 6% ahead of last year.
New orders in June 2018 were up 5% over June 2017, according to our recent survey of residential furniture manufacturers and distributors. The 5% increase followed a 5% increase reported last month and 15% reported in April.
Another strong month following a 15% increase last month, according to our monthly survey of residential furniture manufacturers and distributors. May 2018 orders are up 5% over May 2017 in the July 2018 Furniture Insights.
New orders up 2% in January 2018 according to our latest Furniture Insights. With April Market on the horizon, overall consumer confidence remains quite favorable and indicates further strong growth in the months ahead. Higher consumer confidence may not have a direct correlation on higher consumer spending, however, especially given recent volatility in the stock market.