November 2023 furniture production shows slight monthly decline

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

According to the latest Office for National Statistics (ONS) data, the rate of furniture production fell 3.7% compared to October, as well as down 11.4% on November last year.

On the month, production output is estimated to have grown by 0.3% in November 2023, attributed to growth in manufacturing output.

Meanwhile, the value of the manufacture of furniture for November resulted at £913.7m, down 1.7% from £930m in October. Against the same period last year, the value fell 8.1% from £994.3m.

As for the value of furniture manufacturer exports, this decreased 34.8% to £51.8m for the month from £79.5m. Against last year, exports value fell 47.4% from £98.5m. The value of domestic furniture manufacture increased 1.3% to £861.9m from £850.5m in the month, while down 3.7% from £895.8m last year.

Monthly GDP is estimated to have grown by 0.3% in November 2023, following an unrevised fall of 0.3% in October 2023.

Commenting on the GDP figures for the three months to November, ONS Chief Economist Grant Fitzner said: “The economy contracted a little over the three months to November, with widespread falls across manufacturing industries, which were partially offset by increases in public services, which saw less impact from strike action.

“GDP bounced back in the month of November, however, led by services with retail, car leasing and computer games companies all having a buoyant month. The longer-term picture remains one of an economy that has shown little growth over the last year.”

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