AFMA RELEASES JULY 1997 SURVEY OF CURRENT BUSINESS

Furniture World Magazine

The American Furniture Manufacturers Association announces the results of the July 1997 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 199~1997 in the same classifications, as well as data on collections, deliveries and work hours. New orders for duly 1997 increased 5.1% in comparison to duly 1996 and 4.0% for the calendar year versus 1996. Industry shipments increased 5.1% for the month from July 1996 and rose 5.3% for the year in comparison to 1996.