CPA State of Trade Survey 2022 Q3

CPA State of Trade Survey 2022 Q3

Date Published

19 October 2022

Document Type

Category

Audience

Author

TDUK

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Summary

Construction product manufacturers experienced mixed fortunes in Q3. On the heavy side, a balance of 12% of manufacturers reported a decline in sales compared to Q2, ending a run of two years of growth. For light-side firms, growth in sales was reported by 17%, on balance, which matches Q2 as the weakest balance in two years since the first nationwide lockdown in 2020 Q2. Looking to the next quarter, 47% of heavy side firms and 13% on the light side anticipate a fall in sales in Q4.

Key Information
  • 12% of heavy side firms reported that sales fell in Q3, the first quarterly fall since pandemic-related restrictions in 2020 Q2.
  • Both heavy side and light side manufacturers, anticipated a decline in sales over the next 12 months, on balance.
  • Inflationary pressures showed signs of easing but remained high for fuel and energy.
  • Demand was cited as the factor most likely to constrain output in the year ahead.
  • Hiring intentions softened for light side manufacturers and remained weak for the heavy side.