Economic confidence among plumbing and heating firms plunges to record low, research reveals

Confidence in the UK economy among plumbing and heating firms has fallen to its lowest level on record, according to new data from the Plumbing and Heating Federation.

Only 6% of businesses expressed optimism about the economic outlook, while pessimism rose sharply to 64%, up from 49% in Q2 and 46% a year earlier.

The figures come just weeks before the Autumn Budget, as the sector calls for measures to restore business confidence, support skills development and encourage investment.

Fiona Hodgson, chief executive of he Plumbing and Heating Federation, said: “Although I am relieved to see confidence in our industry has remained relatively steady over the last quarter, the collapse in optimism for the wider UK economy is striking.

“It reflects a deeper malaise being felt across construction, especially in housebuilding, where repeated government promises of a renaissance have yet to materialise.”

Despite the broader downturn in confidence, the report highlighted pockets of resilience within the trade.

Trading activity in Q3 improved, with 37% of firms reporting they were busier than expected.

Order books have also strengthened, with 32% expecting higher or much higher workloads over the next six months, compared with 17% in Q2 and 18% in Q3 2024.