New home-furnishings orders fell for the 16th consecutive month during October, down almost 30% year over year to $1.92 billion, as retailers and consumers continued to cancel or delay orders.
Orders also were down 17.4% from $2.33 billion in September, according to the latest survey of U.S. manufacturers released Friday by industry research firm Smith Leonard PLLC of High Point.
About 88% of study participants reported a decrease in orders during October, compared with 91% of participants in September.
The firm said a deeper dive into the new order trends shows they have been affected primarily by order cancellations from