The road to recovery is likely to be ‘bumpy’ despite an optimistic outlook for an economic rebound, according to the latest economic update..

BFM urges optimism despite ‘bumpy road ahead’

The road to recovery is likely to be ‘bumpy’ despite an optimistic outlook for an economic rebound, according to the latest economic update from British Furniture Manufacturers.

BFM Managing Director Nick Garratt considers consumer confidence, supply chains and the impact of the Chancellor’s Budget as part of BFM’s Monthly Economic Review.

The regular report evaluates economic trends and figures from The Bank of England and the Office for National Statistics as well as data from Springboard, EY Item Club and the Office for Budget Responsibility.

BFM members benefit from insight on predicted footfall, shipping costs and employment, as well as Nick’s assessment of the risks and benefits for furniture manufacturing over the coming months.

Nick said: “The optimism regarding consumer confidence preceded the recent rising concern about the third wave of pandemic in continental Europe that could easily migrate over to UK.

“Furthermore the ‘vaccines war’ could easily de-rail the great success of the UK vaccinations program.

“Recent events illustrate that we are far from out of the woods and whilst we look forward with optimism for a better future, the road is likely to be bumpy.”

The BFM Monthly Economic Review is available for members and those with an interest in the furniture sector at: http://bfm.org.uk/images/bfmfeb21/BFM_Economic_Review_-_April_21.pdf

For previous reviews see here: http://bfm.org.uk/bfm-economic-monthly-review.html