The most recent figures from the Plumbing & Heating Service provider Index (PHMI) report present whole worth gross sales for Might 2024 via specialist plumbing and heating retailers had been down -1.9% in comparison with Might 2023. Nonetheless, year-on-year volumes elevated +5.8% whereas costs decreased -7.3%.  

With one further buying and selling day in Might 2024, like-for-like gross sales (taking buying and selling day variations into consideration), had been -6.6% decrease than the identical month a 12 months earlier than. 

In comparison with April, Might worth gross sales additionally slipped -1.9%. Quantity gross sales had been flat (-0.2%) and costs decreased by -1.8%. There was no distinction in buying and selling days.   

Mike Rigby, CEO of MRA Analysis, which produces the report stated: “The most recent ONS knowledge studies month-to-month building output rising +1.9% general in Might, helped by a +2.8% improve in new housing work and a +0.8% carry in restore and upkeep work. Causes to be extra cheerful maybe. However this improve has but to roll via specialist plumbing and heating retailers.  

“Client confidence has continued to strengthen, with the GfK Client Confidence Index registering a three-point improve to -14 in June, the very best degree it’s been since November 2021. Customers are extra optimistic in regards to the economic system each now and within the subsequent 12 months, and upbeat about their intentions to make main purchases. Is that this the mixed impact of the prospect of change and its realisation in a brand new Labour Authorities that’s decided to take away the limitations to progress within the economic system? Hopefully so, as if Labour can come good on its pledge to construct 1.5 million homes over the subsequent 5 years and unblock the economic system, it is going to be a fine addition to plumbing and heating retailers, trades, and owners.”  

To obtain the newest report go to www.phmi.co.uk.