The rate of furniture production during October 2024 registered a monthly uptick, while the value in domestic goods was also up on the previous month but down against last year.
According to the latest Office for National Statistics (ONS) data, the rate of furniture production rose by 7.3% compared to September, while falling 4.5% on October last year.
Production output is estimated to have fallen by 0.3% in the three months to October 2024, when compared with the three months to July 2024. On the month, production output is estimated to have fallen by 0.6% in October 2024, following a fall of 0.5% in September 2024.
Meanwhile, the value of the manufacture of furniture for October resulted at £894.9m, up 7.1% from £835.4m in September. Against the same period last year, the value fell 5.5% from £947.7m.
As for the value of furniture manufacturer exports, this increased 4.1% to £52.2m for the month from £50.1m. Against last year, exports value fell 34.5% from £79.8m.
The value of domestic furniture manufacture increased 7.3% to £842.7m from £785.3m in the month, while down 2.9% from £867.9m last year.
Monthly real gross domestic product (GDP) is estimated to have fallen by 0.1% in October 2024, largely because of a decline in production output; this follows a fall of 0.1% in September 2024.
Commenting on the GDP figures for October, ONS Director of Economic Statistics Liz McKeown said: “The economy contracted slightly in October, with services showing no growth overall and production and construction both falling.
“Oil and gas extraction, pubs and restaurants and retail all had weak months, partially offset by growth in telecoms, logistics, and legal firms. However, the economy still grew a little over the last three months as a whole.”
