The British Woodworking Federation will use its joinery state of trade survey to gauge business confidence in the sector following Thursday’s vote.
“The BWF’s membership has supporters in both camps, for Vote Leave and Remain,” said Iain McIlwee, BWF chief executive.
“This reflects the diversity of our members and their interests, from the largest international joinery manufacturing firms to the most locally-focused SMEs.”
Mr McIlwee said only time would tell of the impact of the EU Referendum, but the state of trade surveys would be its benchmark for assessing the market.
“We will soon be able to tell if the joinery industry has suffered a knock or is buoyed by new energy post June 23.”
The Q1 survey indicated a rise in sales volumes since the previous quarter, and an increase in the number of companies who reported a current order book of future work extending beyond three months.
Some 68% of manufacturers were predicting a sales increase over the coming year. Almost half (45%) of respondents on balance reported increasing their labour force in the last 12 months, with just over half also anticipating more recruitment over the coming months.
Investment in product improvement had also been increased by 59% of companies on balance over the past year, with 64% saying they would boost investment over the next year.
However, the report also noted that increases in wages, energy bills and the price of raw material have inflated unit costs.
The BWF’s Members Day on July 7 will include a keynote address by Bill Esterton MP, covering implications of the EU Referendum results and the government’s latest construction strategy on the UK joinery sector.
