Serious problems in the financial industry have filtered through to everyday life with landscaping retailers now feeling the squeeze.
Most people think of Travis Perkins as a pure commercial building supplier but a large chunk of their business is derived from garden landscaping and domestic building market. Last week they reported increased numbers for 2007 but warned that trading will not be so rosy this summer.
Home owners, who are now paying 50% more now for every mile that they drive than they were just three years ago, as well as increased food costs, are reluctant to proceed with costly garden works until there is an indication that things are improving.
Sadly, and I have been banging on this drum for some time now, the financial landscape is set to get much worse. Only last Friday, the US, widely considered to be the leading indicator of world financial health, reported worse than expected non farm payroll figures sending stock markets below the previous lows of January.
As well as high oil costs - oil hit an all time record of just under $106 last week - wheat, which is one of the world most important commodities, is experiencing extreme shortages. Recent reports, which vary slightly, are suggesting that there is as little as eight days of reserves left in the world.
For the farming industry, this price rise will have a significant positive impact on profits but it is the home owner who will bare the brunt, sending the family food bill up as much as 20% per week.
Whilst Travis Perkins, despite saying they may suffer from the downturn through this year, remains optimistic.
However, and this is my view, there is no they, or any other enterprise, can avoid the fallout that the credit crunch has created.
Surely, this situation is a major reason to encourage growing your own and trying self sufficiency. Maybe, subconsciously, allotments and vegetable growing is becoming so poplar for this very reason.
How about you, have you switched to growing your own in a bid to save costs?
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