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Agents’ Summary of Business Conditions, 2016 Q3Back

Bank1This publication is a summary of monthly reports compiled by the Bank of England’s Agents between late May 2016 and late August 2016. It generally makes comparisons with activity and prices a year earlier. The report does not represent the Bank’s views, or the views of any particular company or region.

For Q3 2016, the Agents reported that:

  • The annual rate of activity growth had slowed overall as uncertainty rose following the EU referendum, although it remained positive. However, business sentiment improved slightly in August following a marked dip in the immediate aftermath of the referendum.
  • Consumer spending growth and confidence had been more resilient. Although housing market activity had fallen markedly in London and in parts of the surrounding area, it had held up relatively well in other parts of the United Kingdom.
  • Companies’ investment and employment intentions had fallen, and were consistent with broadly flat levels of capital spending and employment over the coming six to twelve months.

The Agents’ summary is generally published on the Wednesday after the Monetary Policy Committee meeting minutes are published. So as the MPC meeting schedule moves to eight meetings a year the Agents’ summary will move to a schedule of eight publications a year. Consequently, there will not be an Agents’ summary published in October, with the remaining Agents’ summary publications for 2016 scheduled for Wednesday 9 November and Wednesday 21 December.

In addition, the timing of Agent’s scoring of the economy will move to eight sets of scores a year alongside the publication of the Agents’ summary. The next set of Agents’ scores will be published on Wednesday 9 November.

​Agents’ Summary of Business Conditions, 2016 Q3

Posted by Sue Robinson on 23/09/2016