I will keep on banging the positivity drum within the Building Products Sector. Of the many leaders I've spoken with recently, many are buoyant about the immediate temperature of the market but media has a habit of trying to drag us down.
Late last week figures from the builders merchants building index pointed towards a SHARP V shaped recovery for the sector. That's worth repeating; a sharp recovery. These figures are based on the three months from May until July.
Granted, these figures are somewhat skewed by the dramatic decline in the three months previously, and a backlog of projects already committed to, but lets not forget our industry was the quickest to fight back once the economy started cranking up again.
A lot of attention has been placed on the RMI product categories, for obvious reasons, but the key figure for me is that the July's revenues were only 1.3% down on the same period of 2019.
It's a lottery what Q4 will bring, with people in the industry wary of what foreign investment might look like, especially within commercial projects, but you've got to take the positives folks!
Sales of building materials through merchants bounced back strongly in the three months May to July. According, the latest builders’ merchants building index the value of sales surged nearly 40% ahead of the prior three months.