Page 9 - FDMASIA JanFeb 2024

Market Beats 7
www.fdmasia.com | FDM AsiA Jan/Feb 2024

Recent Furniture Market issues. Ocean freight increased over fve or more times in

Insights some cases and then dropped back to more normal rates
in the past year.
Year to date, new orders were up two percent over the
New orders of furniture manufacturing same period of 2022. Year-to-date orders for 2022 were down
According to Smith Leonard’s latest survey of residential 29 percent over the same period of 2021 when orders were

furniture manufacturers and distributors, new orders rose up 17 percent over the same period of 2020, again affected
12 percent in October 2023 compared to October 2022. by a couple of months’ shutdown in early 2020.
October 2022 orders were down 30 percent from October
2021 and October 2021 orders were down 18 percent from Retail sales
October 2020. But October 2020 orders were up 40 percent Advance estimates of US retail sales for November 2023,
over October 2019. adjusted for seasonal variation and holiday and trading-day
Now factor in the effects of the Covid pandemic, up to 30 differences, but not for price changes, were $705.7 billion,
percent and more price increases due to material price and up 0.3 percent from the previous month, and up 4.1 percent
freight cost increases, increases in labour costs, and other above November 2022. Total sales for the September 2023

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