INDUSTRY UPDATE STATE OF TRADE
STATE OF TRADE The FMB Q3 2023 State of Trade Survey reveals ongoing challenges for members in three key areas
MARKET CONDITIONS
SKILLS
PRICES AND COSTS
39% of members struggle to hire carpenters
of members report material costs increased in Q3 with 55% expecting this to continue into the next quarter – an improvement from previous quarters
Total workload, enquiries and employment has dropped in Q3 of 2023 , driven by poor performance in house building and industrial and commercial sectors
71% of members have increased their prices as a result , with half reporting their business will likely make a loss or fall below expected margins
35% of members struggle to hire bricklayers
of members reported a decrease in enquiries
27% of members are restricting hiring new staff as a consequence of increased outgoings
RMI reported workloads remain positive , but have dropped off since Q2 2023
of members struggle to hire general labourers
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