Budget effect on flooring sales revealed in October sales data
November 25, 2024
Predictions about the effect that worries about the Budget would have on consumer spending have been bourne out in the latest sales figures for the flooring sector for October.
According to the latest data from the Office for National Statistics (ONS), retail sales in flooring decreased 10.6% in October compared to the previous month. However, compared to the same time last year, sales were up by 18%.
In practice, the Budget on October 30 turned out to be targeted more on businesses than on individuals and anecdotal evidence is that householders have now started buying flooring again – also the GfK Major Purchase Index for November says consumer confidence is looking stronger - see related.
ONS analyst
Hannah Finselbach said: “Retail sales fell back in October following three months of growth. Retailers across the board reported consumers held back on spending ahead of the Budget.
“However, when we look at the wider trend, retail sales are increasing across the three month and annual periods, although they remain below pre-pandemic levels,” she said.
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