Latest quarterly figures from the UK’s multi-billion pound builders merchant and materials industry point to continued growth for the year.
Quarter two results from the Builders Merchants Federation (BMF) market data report, the ‘Builders Merchants Industry Forecast’ is forecasting a baseline growth of 3% for 2019.
Coventry based BMF represents a significant part of the national economy, with 684 merchant and supplier companies in its membership, who have combined sales of £31.4 billion and employ more than 128,000 people.
Its ‘Builders Merchants Industry Forecast’ provides a comprehensive analysis and forecast of the builders’ merchant sector for the 2019 to 2021 period, and includes key statistics, as well as the general economic performance and outlook, with commentary on inflation, wage growth, the labour market and economic growth.
John Newcomb, BMF CEO, said: “We are forecasting at 3% growth, but the continuing uncertainty over the UK’s withdrawal from the EU weighs on confidence.
“As a result, we are committed to working with the Government and CBI to ensure the best outcomes for our members.”
“Inevitably, Brexit will create an impact on activity.
“However, while we are still living in uncertain times, the overall picture remains fairly positive for our sector.”
The BMF’s Builders Merchants Industry Forecast 2019 to 2021 – led by the trade body’s Industry Analyst and Economist, Nyssa Patel – uses sales out data from the BMF’s existing Builders Merchants Building Index (BMBI), coupled with other key variables to forecast what is likely to happen in the next 12 months and beyond.
It is based on five significant variables that correlate with builders’ merchants’ sales, namely Repair, Maintenance and Improvement, Weekly Household Income, Season, All New Work and Number of Trading Days (per month).