AFMA Releases May 1998 Survey Of Current Business

Furniture World Magazine

The American Furniture Manufacturers Association announces the results of the May 1998 Survey of Current Business for the furniture manufacturing industry. The Survey reports business activities of participating manufacturing companies (representing 60% of industry volume) in the categories of new orders, shipments, unfilled orders, cancellations, production, payroll, inventories and accounts receivable. Product classifications surveyed are bedroom, dining room, occasional, casegoods (wood furniture), recliners and upholstery. The results for the month and year-to-date are presented on a percentage change basis in comparison to the corresponding month and year-to-date period of the previous year. The report also includes monthly indices for new orders and shipments from 1994-1998 in the same classifications, as well as data on collections, deliveries and work hours. New orders for May 1998 increased 25.7% in comparison to May 1997 and 20.0% for the calendar year to date versus 1997. Industry shipments increased 20.7% for the month from May 1997 and rose 17.3% for the year in comparison to 1997. Attached for your information is a copy of the complete May 1998 Survey of Current Business report published by the American Furniture Manufacturers Association.