HIGH POINT, NC – The latest survey of residential furniture manufacturers and distributors by accounting and consulting firm Smith Leonard PLLC revealed new orders in December 2008 were 21% lower than orders in December 2007. New orders in December 2007 were 8% lower than orders in December 2006.

Orders in December 2008 were 9% lower than November 2008 orders, a normal decline between those two months. Results for December were in line with what Smith Leonard expected. For the 2008 year, new orders were down 14% compared to 2007. For the fourth quarter of 2008, new orders were 26% lower than the same quarter a year ago.