Manufacturers more pessimistic about trade while skills shortages ease
Posted: Tuesday, November 28th, 2023
Optimism about the trading environment is fading amongst British furniture manufacturers (BFM), according to the latest survey, which covered over 4,000 employees. The survey primarily looks at the last six months' trade to October this year and future expectations. A negative balance of -21% reported that they were more pessimistic than in April this year and -32% said that trade was worse than 12 months ago. Negative results were also reported for order intake and the volume of output. On a more positive note, raw material prices were considered less than 6 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. It is worth remembering that in September 2022, prices were up in the year by 12% and not long prior to that by over 20% for a consistent period. 37% of companies still reported moderate or significant problems in recruiting skilled labour. BFM MD Phil Spademan said: “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.”
Trending Stories
-
Essex electrician has roundabout signs rejected
A sparkie’s bid to sponsor signs on two roundabouts has been refused by planning chiefs who described them as “clutter”
-
Barbie caused a ‘worldwide’ shortage of pink paint
Barbie needed so much fluorescent pink paint that it caused a worldwide supply shortage for an entire company
-
Builders find body of man murdered in the 1960s and buried in back garden
A woman who bought a South London house was left horrified after builders discovered the body of a man murdered in the 1960s and buried in her garden 14 months after she moved in
-
'Government insulation scheme ruined my home'
A home-owner said his flat has been ruined by black mould caused by a government "green" insulation schem
-
Builder celebrates lottery win by buying his coworkers bacon butties
A builder from Milford Haven who won big on the lottery celebrated his victory by treating all his workmates to a round of bacon rolls
Comments
Add a comment