Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
The latest Builders Merchant Building Index (BMBI) report, produced by MRA research, has been published, highlighting January’s builders’ merchant like-for-like total value sales (adjusted to remove the effect of trading days) were -2.6% lower than the same month in 2025.
With one less trading day this January, total value sales (unadjusted for trading day differences) were -7.0% lower than January 2025, and like-for-like volume sales fell -7.2% while prices increased +5.0%.
Month-on-month, January’s like-for-like value sales were +3.0% ahead of December 2025, with like-for-like volume sales increasing +2.0% and prices up +0.9%. With three additional trading days in January, the unadjusted value sales were +20.2% up month-on-month. Unadjusted volume sales increased +19.0% and prices rose +0.9%.
Managing director of MRA Research, Mike Rigby, says: “With the national media revelling in bad to worse international and domestic news (must-read content), and our politicians at sixes and sevens, it’s hard for businesses to strike a sensible balance. Is the glass half full or are we about to fall off a cliff. But, during the mayhem, it’s worth pausing to ask are things as bad as they look?
“The last six years have been a roller coaster of overlapping economic shocks that have left painful scars: a protracted, mismanaged Brexit process; a precipitous drop in GDP (-19.8% between April to June 2020, the deepest recession since 1709, during Covid and post-Covid supply chain disruption and inflation; Russia’s invasion of Ukraine causing global energy and food prices to soar; Liz Truss’ September 2022 bond market crisis; Rachel Reeve and Starmer’s puncturing of voters’ hopes and confidence in them; and Trump’s crazy Tariff War and insults to allies. Whew! And, just when we were looking forward to a quieter, more stable 2026, the US Government threatened to grab Greenland, did grab the president of Venezuela, and together with Israel attacked and killed the leaders of Iran and set off a conflagration in the Middle East that has reignited inflation and is triggering supply shocks worldwide. Goodbye stability and steady growth!
“And yet… despite the wall-to-wall disasters and chaos of the last six years, our animal spirits, natural optimism, hopes and expectations just won’t lie down. Ask consumers how they rate the Government and prospects for the economy and they give a thumbs down, but ask how they are rate their own financial prospects and you get a cheerier more positive answer. Ask businesses the same question and you get a similar response. A recent survey of builders’ merchants by MRA Building Market Reports finds the same paradox. Although merchants’ confidence in the market is low, their sales expectations and confidence in the performance of their own business are much more positive. And reading a slew of recent announcement of annual results, several large building materials groups are clearly doing well and looking forward to continuing to do well.
“We all hope for a swift end to conflict in the Middle East. But, if it does drag on, we’ll have to make the best of it. It has been hard going and still is. Surprisingly enough, given the astonishing number of black swans we’ve had to contend with, we seem to have been doing rather better at it than you’d expect. I find that very encouraging.”
