NEWS EXTRA
RMI OUTLOOK REMAINS POSITIVE SAYS TP INDEX SURVEY
Each quarter, builders merchant group Travis Perkins plc conducts an extensive survey across its trade customers to collect insights on near term outlook, workload, material purchases and other trends.
THE RMI SECTOR is expected to remain a key driver for business growth amongst respondents to the latest Travis Perkins RMI Index survey amongst the group’s customers of its Travis Perkins, Keyline and Toolstation brands. Sentiment is becoming more positive in this sector, as nearly half of respondents (46%) said that they expect materials purchases to increase. Nevertheless, the RMI market remains challenging, with only tentative signs of recovery in lead indicators, though it is certainly encouraging that 92% of respondents expect their workload to increase or stay the same in the next two months. This is up 14% from 78% in the RMI Index Report from November 2022. Nearly everyone – 93% - forecast that their materials requirements over the next two months will increase or remain the same - up 11% from 82% in the RMI Index Report November 2022.
While domestic repair and maintenance remains the biggest driver of work for 73% of res[ondensts, at 20%, this survey also shows a strengthening of the commercial and industrial market as a key driver - up 7% from 13% in the last report.
Last time, the major concern for the majority of participants
was rising inflation, however this overtaken by lack of access to training. Other concerns include lack of trust in climate change and Government, and the cost of green products and initiatives. Confidence about expected workloads over the next two months has strengthened with 92% expecting workloads to increase or remain the same (vs 78% in November 2022). There is similar optimism regarding
“The RMI Index gives us valuable insight and plays a significant role in expanding our knowledge and understanding of an important market in which we operate.”
material purchasing plans with 93% forecasting that their materials requirements over the next two months will increase or remain the same (vs 82% in November 2022).
Transport and fuel costs was also a key topic of concern in the last edition of the RMI Index Report (November 2022). This, as well as the material price increases, has dropped down the list of issues of their concern.
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Nick Roberts CEO Travis Perkins plc says: “We pride ourselves in our role as partner to the entire construction industry and to do so, we need to understand what it is that makes our customers tick. “The RMI Index gives us valuable insight and plays a significant role in expanding our knowledge and understanding of an important market in which we operate.” BMJ
www.buildersmerchantsjournal.net August 2023
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