Consumption of wood flooring in Europe declined 20% in the first quarter of 2023 compared with the same period last year, according to the European Parquet Federation (FEP).
The decline was a result of slowdowns in renovations and new construction, as well as increasing costs and interest rates.
Germany had the highest percentage decline, falling 30% in the first quarter.
“The renovation wave has also reached an end and nobody knows when renovation activity will come back to normal levels, as COVID led consumers to anticipate renovation works instead of making them in 2024-2025,” FEP stated. “A restart of activity is expected in September/October.”
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