The rate of furniture production during August 2024 registered a monthly decline, while the value in domestic goods was also down on the previous month and against last year.
According to the latest Office for National Statistics (ONS) data, the rate of furniture production fell by 1.7% compared to July, while falling 7.7% on August last year.
In the three months to August 2024, production output is estimated to have shown no growth when compared with the three months to May 2024. On the month, production output is estimated to have grown by 0.5% in August 2024, following a fall of 0.7% in July 2024.
Meanwhile, the value of the manufacture of furniture for August resulted at £799.6m, down 3.9% from £832.4m in July. Against the same period last year, the value fell 8.8% from £877.5m.
As for the value of furniture manufacturer exports, this increased 6.4% to £44.8m for the month from £42.1m. Against last year, exports value fell 21.5% from £57.1m.
The value of domestic furniture manufacture decreased 4.4% to £754.8m from £790.3m in the month, while also down 7.9% from £820.4m last year.
Monthly real gross domestic product (GDP) is estimated to have grown by 0.2% in August 2024, after showing no growth in July 2024.
Commenting on the GDP data for August, ONS Director of Economic Statistics Liz McKeown said: “All main sectors of the economy grew in August, but the broader picture is one of slowing growth in recent months, compared to the first half of the year.
“In August accountancy, retail and many manufacturers had strong months, while construction also recovered from July’s contraction. These were partially offset by falls in wholesaling and oil extraction.”
