furniture manufacture image

November furniture production rate rises slightly as annual domestic value grows

The rate of furniture production during November registered a slight increase while the value in domestic goods rose on last year.

According to the latest Office for National Statistics (ONS) data, the rate of furniture production rose 0.6% compared to October, while down 0.9% on November last year.

Overall, monthly production output fell by 0.2% between October and November 2022 and is 2.5% below February 2020; this was the last month of “normal” trading conditions before the coronavirus (COVID-19) pandemic.

Meanwhile, the value of the manufacture of furniture for November resulted at £978.7m, up 5.4% from £928.1m in October. Against the same period last year, the value rose 8.1% from £904.7m.

As for the value of furniture manufacturer exports, this increased 10.1% to £89.8m for the month from £81.5m. Against last year, exports value rose 4.9% from £85.6m. The value of domestic furniture manufacture increased 4.9% to £888.9m from £846.6m in the month, while growing 8.5% from £819.1m last year.

Total gross domestic product (GDP) is estimated to have grown by 0.1% in November 2022, following growth of 0.5% in October 2022.

Commenting on the GDP figures, ONS Director of Economic Statistics Darren Morgan said: “The economy grew a little in November with increases in telecommunications and computer programming helping to push the economy forward. Pubs and bars also did well as people went out to watch World Cup games.

“This was partially offset by further falls in some manufacturing industries, including the often-erratic pharmaceutical industry, as well as falls in transport and postal, partially due to the impact of strikes.

“Over the last three months, however, the economy still shrank – mainly due to the impact of the extra Bank Holiday for the Funeral of Her Majesty Queen Elizabeth in September.”

Save this article for later

You can revisit this article if you save it as favourite news!

Share on twitter
Share on facebook
Share on linkedin
Share on whatsapp
Share on telegram
Share on email

Leave a Comment

have you read…

related articles

MORE ARTICLES