Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
The latest Plumbing & Heating Merchant Index (PHMI) report, published in October, shows like-for-like value sales for August 2026 through specialist plumbing and heating merchants, adjusted for trading days, were +1.8% higher than August 2025. But, year-on-year, like-for-like volume sales decreased -5.4%, while prices increased +7.6%.
With no difference in trading days, unadjusted value sales for August 2026 also increased +1.8% compared to August 2025. Unadjusted volume sales dropped -5.4% year-on-year, and prices rose +7.6%.
Compared to July, August like-for-like value sales were +1.1% higher. Like-for-like volume sales increased +1.6% month-on-month but prices decreased -0.5%. With three fewer trading days in August, unadjusted value sales were down -12.0%. Unadjusted volume sales fell -11.6% and prices decreased -0.5%.
Mike Rigby, managing director of MRA Research, which produces the PHMI report, says: “The latest ONS construction data reveals that construction output has fallen for four consecutive months, down -0.2% in August. The ONS has revised its July output figure of +0.1% up, to -0.5% down as more data became available. Private housebuilding’s output has dropped -3.2% over the past three months, and down -1.9% in August, is depressing total construction output.
“While housebuilding is struggling, further encumbered by extra costs and regulations casually imposed by Government – the House Builders Federation calculates they add an extra £38,030 to the average cost of a new build home – the UK economy is showing remarkable resilience. The latest ONS figures suggest GDP increased +0.1% in August. Annually, the economy has grown +2.1% – it’s strongest rate since August 2022. The IMF’s latest forecast puts Britain’s growth equal second among the G7 group of advanced economies, after the US economy which is storming. Our national media and politicians are so used to talking Britain down that they’re surprised by such confidence in the UK.
“So far, the public has been more positive and resilient. The GfK Consumer Confidence Index showed a 1-point increase to -13 in September, marking a third month of consecutive improvement for the first time since 2024 despite constant knock-ons from trade, hybrid and real wars inflating prices and risking disruption. A lot is riding on the Autumn budget. Good or bad, it will determine whether consumers and businesses feel better or worse off under Andy Burnham. The ripples will be felt throughout construction.”
