August 2023 furniture production shows monthly increase

The rate of furniture production during August registered a slight monthly uptick whilethe value in domestic goods increased on the previous month but fell against last year.

According to the latest Office for National Statistics (ONS) data, the rate of furniture production rose 0.3% compared to July, while down 15.3% on August last year.

Production output fell by 0.7% in August 2023 after falling by 1.1% in July 2023, revised down from a 0.7% fall in its previous publication.

Meanwhile, the value of the manufacture of furniture for August resulted at £874.5m, up 7.3% from £814.9m in July. Against the same period last year, the value fell 12.5% from £998m.

As for the value of furniture manufacturer exports, this increased 16.5% to £57.6m for the month from £49.4m. Against last year, exports value fell 56% from £132m. The value of domestic furniture manufacture increased 6.7% to £816.9m from £765.5m in the month, while down 5.6% from £866m last year.

Monthly real gross domestic product (GDP) is estimated to have grown by 0.2% in August 2023, following a fall of 0.6% in July 2023, revised down from a 0.5% fall in its previous publication. Looking at the broader picture, GDP increased by 0.3% in the three months to August 2023, with growth in all sectors.

Commenting on the GDP figures for August, ONS Director of Economic Statistics Darren Morgan said: “Our initial estimate suggests GDP grew a little in August, led by strong growth in services which was partially offset by falls in manufacturing and construction. 

“Within services, education returned to normal levels, while computer programmers and engineers both had strong months.

“Across the last three months as a whole the economy has grown modestly, led by car manufacturing and sales, and construction.”

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