The latest trade and price trends survey shows confidence across the sector has risen to a significant new level.
Business optimism in the BFM’s January 2020 State of Trade & Price Trends Survey stands at +61%. It also marks a significant jump forward from October’s +22% result.
Nick Garratt, managing director of BFM, said: “The figure of +61% represents an optimism not seen since October 2008. This optimism has been fed by a better than expected order book over the last four months and increased output.”
The positive result aligns with the feedback from BFM members recorded at the January Furniture Show, where the trade body produced a podcast to capture the mood of the industry at the event.
The podcast can be heard at https://soundcloud.com/britishfurnmanufacturers/bfm-in-conversation-with-january-furniture-show-2020.
Now, the BFM is waiting to see if the global implications of the Coronavirus will impact on the sector’s confidence.
Nick added: “Most responses to the survey came in the first half of February and since then there has been a considerable shift in business confidence as a result of the Coronavirus. “At this stage it is very difficult to predict the full economic outcome and we are keeping a watching brief.”
A full version of the 17-page document, which features a comprehensive overview of key industry statistics including trends in material prices and other costs, is available below.