Figures released in the Plumbing and Heating Merchants Index (PHMI) for the third quarter of 2024 indicate that the market is stabilising, but there is little sign of significant growth in the immediate future.

Total value sales in Q3 2024, at +0.2%, were virtually flat compared with the same period last year. Volume sales were up by +5.3% and prices were down by -4.9%.

There was one more trading day in Q3 2024, which means like-for-like sales, which take trading day differences into account, were down by -1.4%.

Total value sales in Q3 2024 were +4.0% higher compared with the previous three months, April to June 2024.  Volume sales increased by +3.2% and prices were up by +0.8%. 

With three more trading days in the third quarter, like-for-like sales were -0.8% lower than the second quarter of the year.

Comparing the first three quarters of 2024 with the same period in 2023, shows total value sales were -1.8% lower this year.  Volume sales were up by +0.9% and prices were down by -2.7%.

With two more trading days during the period in 2024, like-for-like sales were -2.8% lower.