Latest performance of the furniture industry for 2019
The Furniture Industry Research Association has been analysing the Government’s recently published manufacturing and export figures, summarised in its 'MBS turnover of production industries'. At this time these figures are provisional and subject to verification.
The latest figures for 2019 suggest that the performance of the furniture industry grew overall by 2.03% with home performance remaining strong at +4.29% compared to 2018, continuing an upward trend, exports decreased by -17.79% compared with the high of 2018 falling back to Q2 2017 levels.
Drilling down into more detail for the monthly 2019 performance the fall in exports began in Q3 2019, possibly caused by the uncertainty generated by Brexit and the General Election in November. Q1 2020 begins with some clarity as the UK leaves the EU and enters the transition period.
Preliminary data in the first quarter of 2020 with the Covid-19 pandemic on the horizon shows performance reducing to £2.14 billion, reduction in exports of -48.98% compared with Q1 2019 and home performance reducing -5.5% over the same period. This data might be skewed slightly as it also includes the data from the first week of lockdown (23rd March) with non-essential shops and industry closed as well as many borders and export routes.
The Furniture Industry Research Association collates key furniture statistics on an annual basis for its membership. The annual Statistical Digest is a key document for business influencers – informing and influencing key decisions.
For those wishing to access the core data this can be found online here.
For more information contact FIRA International on +44 (0)1438 777 700 or email firstname.lastname@example.org.