Flooring sales fall 10% in July
August 19, 2024
Latest data from the ONS confirms reports of the summer doldrums that have depressed the flooring market, with sales down 10% in July.
The Office for National Statistics shows retail flooring down 9.8% to £242m in July, month-on-month – however, that figure is over 7% higher than this time last year when only £225.3m worth of floorcoverings were sold.
July was an exceptionally poor month for the furnishing and lighting sector as a whole which was down 18.2%. This is the tenth month in a row that furniture sales have fallen but July's data was the sharpest drop since February 2021 (when the UK was going into its third Covid lockdown).
Kris Hamer at the British Retail Consortium, said: “Homeware and furniture performed badly, as people concentrated their spending on summer experiences. The high cost of living is still bearing down on consumers, but with interest rates finally easing, retailers are hopeful that this will buoy consumers confidence, and with it greater spending, particularly as we head into August."
Across the economy as a whole, retail sales volumes are estimated to have risen by 0.5% in July 2024, following a fall of 0.9% in June but the actual value was down 18% month-on-month to £40bn.
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