The volume of U.S. imports of wooden furniture grew by 17% in May, surging ahead of 2018 year to date for the first time this year. Imports from China, Vietnam, Malaysia and Mexico all rose by more than 10%. Year to date, imports from Vietnam and Malaysia are up 29% and 13% respectively, reported Global Wood.
The results of the Smith Leonard survey of residential furniture manufacturers and distributors for April show business to be slowing down. New orders in April were down 9% from April 2018 and only 36% of the participants reported increased orders.
Year to date, new orders were 3% lower than the same period a year ago and down in a flat first quarter.
Shipments were down 2% from April 2018, down for 55% of participants. Year to date, shipments were up 2%, but only 48% reported increased year to date shipments.