January 2024 furniture production maintains monthly rise

The rate of furniture production during January 2024 registered a slight monthly increase for a second straight month whilethe value in domestic goods rose on the previous month and against last year.

According to the latest Office for National Statistics (ONS) data, the rate of furniture production rose 0.6% compared to December, while falling 8.4% on January last year. The monthly uptick adds to the previous growth of 1.2% in November.

On the month, total production output is estimated to have fallen by 0.2% in January 2024, driven by a fall of 2.2% in water supply; sewerage, waste management and remediation activities.

Meanwhile, the value of the manufacture of furniture for January resulted at £766.8m, up 19% from £644.1m in December. Against the same period last year, the value fell 1.9% from £782.1m.

As for the value of furniture manufacturer exports, this decreased 49% to £44.4m for the month from £87.2m. Against last year, exports value fell 39.5% from £73.4m. The value of domestic furniture manufacture increased 29.7% to £722.4m from £556.9m in the month, while also up 1.9% from £708.7m last year.

Monthly GDP is estimated to have grown by 0.2% in January 2024, following a fall of 0.1% in December 2023. There are no periods open for revision in this publication.

Commenting on the GDP figures for January, ONS Director of Economics Statistics Liz McKeown said: “The economy picked up in January with strong growth in retail and wholesaling. Construction also performed well with housebuilders having a good month, having been subdued for much of the last year.

“These were partially offset by falls in TV and film production, lawyers and the often-erratic pharmaceutical industry. Over the last three months as a whole, the economy contracted slightly.”

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