Latest figures from British Furniture Manufacturers (BFM) point to a rise in furniture orders and output over the next six months.
BFM's Trade and Price Trends Survey helps gauge the state of the trade and provides insights to BFM members each spring and autumn. The survey gathers data on the general business situation, numbers of employees and apprentices, volume of new orders, volume of output, and costs.
In April, a positive balance of 13% of respondents said they expected to see a rise in both output volume and order intake, after 69% reported a fall in output and 81% saw a dip in orders compared to October 2023.
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BFM Managing Director, Phil Spademan, says, 'BFM regularly surveys the industry on key topics to provide insight to members.'
He continues, 'The latest survey shows on balance 53% reported a deterioration in the overall trade in April compared to October, with 63% saying the general business situation had worsened over the past six months. The results point to a difficult period for the sector in late 2023 and early 2024; however, it's important to note that members are anticipating an increase in output volume and order intake over the coming months.
'Respondents were also asked about apprentices for the first time in the April 2024 survey, and with 69% employing at least one apprentice, we can see a clear commitment to education and skills within the industry.'
The latest Trade and Price Trends Survey is available to BFM members at www.bfm.org.uk.
More information:
British Furniture Manufacturers
[email protected]
www.bfm.org.uk