We are in the midst of a genuine recovery in demand
Maybe it’s reading tea leaves but when a large (and local) office furniture maker sees across the board improvement and calls a “rebound in North American office business,” I’m going to take it as a glimmer of good news for the office sector.
Knoll Inc., based in the far fringes of Montgomery County in East Greenville, saw a third-quarter that showed sales, profit, income, earnings per share and even backlog increase during the third quarter. Maybe the most telling is the backlog number, which is the number of orders that companies have made and Knoll hasn’t filled yet. Backlog at the end of the quarter ending Sept. 30 stood at $160.5 million, up nearly 32 percent over third quarter last year.
"We are in the midst of a genuine recovery in demand," said Andrew Cogan, Knoll’s chief executive, said in a statement, adding that the company is benefiting from improved demand conditions and that its internal leading indicators continue to show double digit year-over-year growth.
