Global economic crisis halts growth in parquet sector

After several years of steady growth, 2008 saw a decline of parquet sales on the European market. FEP, the Brussels based European Federation of the Parquet Industry, estimates that based on preliminary information obtained from companies in its member countries, parquet sales in 2008 dropped by nearly 7% over 2007. This fall appears to reflect the relapse witnessed in the flooring market in general. In the same line, a regression in parquet production volumes was also apparent in the global EU area.
This new development does not come as a surprise, as the steadily weakening tendency was observed throughout most of last year and especially during the last quarter.
The slackening performance of the traditionally largest markets (Germany, Spain and France in particular) that played such a big role in the sharp drop in local construction businesses, affecting both the delivery of new dwellings and to a lesser degree the renovation segment, is certainly one of the major factors behind the general market decline. Available data presently peg total consumption in the EU/EFTA area at around 112 million m2. FEP wishes to stress, however, that complete statistical data will only be available at its General Assembly next June.