Optimism about the trading environment is fading amongst British furniture manufacturers, according to a new survey.
The BFM’s Trade & Price Trends Survey, which primarily looks at the past six months trade to October this year and future expectations, found that a balance of 21% reported that they were more pessimistic than in April this year and a balance of 32% said that trade was worse than 12 months ago. Negative results were also reported for order intake and the volume of output.
Raw material prices were considered less than six months ago by a balance of 11%, although labour and overhead cost pressures were still at a comparatively high level, recording figures of +74% and +47% respectively.
A balance of 37% of companies reported moderate or significant problems in recruiting skilled labour.
‘The latest Trade and Price Trends Survey reveals a dip in optimism from respondents, with predictions for the next six months remaining in the negative for expected output and orders. However, skill shortages were not as pronounced as in recent surveys,’ says Phil Spademan, BFM md.
