Will end of recession may boost carpet demand?
21st December 2009
The Confederation of British Industry (CBI) has said that a rise in pre-Christmas spending - which could include more people buying carpets - will help the UK economy to achieve growth of 0.5 per cent in the last three months of 2009.
According to the CBI, there will be subsequent growth of 0.3 per cent in each of the first two quarters of 2010, with the year bringing 1.2 per cent growth and 2011 seeing a 2.5 per cent rise in gross domestic product.
The overall rate of economic improvement will be slowed by factors such as rising unemployment until it peaks next September, as well as public spending cuts.
Recent figures have suggested that the flooring sector is one of the areas of retail that is now bouncing back.
Data from the CBI's Distributive Trades Survey for November revealed that the carpeting and furniture sector saw its second successive monthly increase in sales.
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