P&H sales volumes reflect slowdown in the economy

sales volumes

Figures released by the Builders Merchants Federation (BMF) in its latest Plumbing and Heating Merchants Index (PHMI) reflect a slowdown in the general economy with year-on-year sales volumes falling. Year-on-year sales values continue to rise, due to higher prices, but there are signs in the comparison of the two most recent quarters that prices are now stabilising.

Quarter 3 2023 v Quarter 3 2022

Total value sales in Q3 2023 were 2.6% higher than in the same period last year. There was no difference in trading days for the two periods, however, growth came solely from higher prices, which increased by 5.8%, as sales volumes were 3.0% lower in Q3 2023.

Quarter 3 2023 v Quarter 2 2023

Total value sales in Q3 2023 were 1.4% higher than in the previous quarter of the year, with volume sales 1.6% higher and prices marginally down by 0.2%. However, there were four more trading days in Q3 and like-for-like value sales, which take trading day differences into account, were 4.9% lower than in Q2 2023.

Last 12 months

Plumbing & Heating Merchants value sales in the period from October 2022 to September 2023 increased by 6.9% compared with the previous 12 months, with no difference in trading days between the two periods. Price was a major factor here. Prices increased by 8.2% but volume was down by 1.2%.

The data for the PHMI is taken solely from P&H specialists, including City Plumbing Supplies, James Hargreaves Plumbing Depot, Plumbfix, PTS, Williams & Co, and Wolseley, who form part of GfK’s Plumbing & Heating Merchants Panel, and there is no overlap or double counting between the PHMI and the BMF’s established Builders Merchants Building Index which analyses sales at generalist merchants.

No posts to display