Wood products and furniture and related products are two industry categories that contracted the most in January, according to the latest report from the Institute for Supply Management (ISM).

New orders for residential furniture rose 26% in November compared to 2022 figures, marking seven straight months of double-digit percentage growth over the prior year. Year-to-date new orders were up 4% compared to a year ago, according to Smith Leonard's latest issue of Furniture Insights.

Ethan Allen Interiors Inc. reported lower sales but strong margins and a robust balance sheet for fiscal 2024's second quarter financial and operating results ended December 31, 2023.

2023 was a challenging year for Bassett Furniture as each quarter saw a year-over-year drop in sales, including the recently completed 4th quarter.

The Equipment Leasing and Finance Association (ELFA), which represents the $1 trillion equipment finance sector, revealed its Top 10 Equipment Acquisition Trends for 2024 including a growth in spending, especially automation and robotics, and a lowering of interest rates.

Overall cabinet sales of were down 9.6% for November 2023 compared to the same month in 2022 according to KCMA's Trend of Business report.

While new residential furniture orders were up 12% in October 2023 compared to the year prior, it's tempered by the fact that 2022 numbers were down from October 2021, which in turn was down from 2020 numbers.

Furniture & Related Products is one of 15 industry categories that have positive economic expectations for 2024.

What are the top U.S. states for the various woodworking industries and how much can you earn? View the infographic.

What are the top Canadian provinces for wood products industries and how much can you earn? View the infographic.