Recession to Disrupt Flooring Industry
Industry insiders are making dark predictions that suggest the flooring industry is likely to be disrupted by the continuing symptoms of the economic recession, including cuts in spending.
An article that has been published in the July edition of Contract Flooring Journal sees several high profile figures in the construction industry expressing opinions that have already caused a fair degree of concern among members of the flooring industry. The big issue is perhaps that of the public sector cuts, which are beginning to come into effect and that could have a large impact on the flooring sector, even to the extent of possibly undermining recent positive movements across the industry. Indeed, the small amount of growth that has been noted recently in the private sector is now expected to be overwhelmed by the negative effects of the new public sector cuts, which will have a serious adverse affect on a sizeable section of the population of the United Kingdom.
The decline in the construction industry has been attributed to factors such as the rising cost of energy, fuel and basic materials, and with no relief in sight the decline is set to continue as prices maintain their upward trajectory, and will eventually have an affect on the flooring sector as well.
The article does offer some hope, acknowledging that the flooring industry will likely make a swift recovery after the cuts have been established, but that does not stop the short term prospects for flooring companies – even those that specialise in wood flooring, which is highly durable and unlikely to need wood floor repair for decades – from looking bleak.