The latest Builders Merchant Building Index (BMBI) report, collating sales data from across Great Britain, shows that takings in February 2024 were 4.7% lower than in February 2023. Sales volumes were down 7.5% while prices increased by 3.1% year-on-year.
With February 2024 having an extra trading day, like-for-like takings were down 9.2%.
With England recording its fourth wettest February on record, according to the Met Office, indoor products sold better than outdoor products. Sales of decorating materials were 6.2% higher this February that February last year while heavy building materials were down 7.9%. Workwear & safety wear saw the biggest increased, up 18.3% on February 2023, while renewables & water saving products was the weakest category (perhaps ironically) with sales down 20.9% on the year.
However, February takings were at least better than January’s, up by 4.8%, despite prices being down by 3.1% in the month. Sales volumes were up by 8.1% month-on-month.
Total takings in the 12 months from March 2023 to February 2024 were 5.5% lower than the same period the year before (March 2022 to February 2023). Volumes were down 12.5% lower and prices were up by 8.0%.
With an additional three trading days in the most recent 12-month period, like-for-like takings were down by 6.7%.
Got a story? Email news@theconstructionindex.co.uk
