Figures released by the Builders Merchants Federation (BMF) in its latest Plumbing and Heating Merchants Index (PHMI) reflect the 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.

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.

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.

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%.