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June furniture production shows monthly uptick

The rate of furniture production during June registered a monthly increase whilethe value in domestic goods fell on the previous month and against last year.

According to the latest Office for National Statistics (ONS) data, the rate of furniture production rose 2% compared to May, but down 11.8% on June last year.

Production output grew by 1.8% in June 2023 after a fall of 0.6% in May 2023, unrevised from the previous publication; this sector was the main contributor to the growth in monthly GDP in June.

Meanwhile, the value of the manufacture of furniture for June resulted at £893.8m, down 0.04% from £894.2m in May. Against the same period last year, the value fell 6.3% from £954.6m.

As for the value of furniture manufacturer exports, this increased 6.6% to £76.7m for the month from £71.9m. Against last year, exports value fell 25.3% from £102.8m. The value of domestic furniture manufacture decreased 0.6% to £817.1m from £822.3m in the month, while down 4% from £851.8m last year.

Monthly real gross domestic (GDP) is estimated to have grown by 0.5% in June 2023, following a fall of 0.1% in May 2023 and growth of 0.2% in April 2023, both unrevised from the previous publication. Looking at the broader picture, GDP has shown 0.2% growth in the three months to June 2023.

Commenting on the GDP figures, ONS Director of Economic Statistics Darren Morgan said: “The economy bounced back from the effects of May’s extra bank holiday to record strong growth in June. Manufacturing saw a particularly strong month with both cars and the often-erratic pharmaceutical industry seeing particularly buoyant growth.

“Services also had a strong month with publishing and car sales and legal services all doing well, though this was partially offset by falls in health, which was hit by further strike action.

“Construction also grew strongly, as did pubs and restaurants, with both aided by the hot weather. Across the quarter as a whole, GDP grew a little with widespread growth across manufacturing – aided by falling raw material prices – computer programming and hospitality.”

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