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Agents’ Summary of Business Conditions, November 2016 UpdateBack

Bank1This update covers views gathered from business contacts by the Bank of England’s Agents across the UK between late August 2016 and mid-October 2016. It generally makes comparisons with activity and prices over the past three months on a year earlier.

  • Business sentiment had recovered further from its post-referendum fall, but remained relatively fragile alongside significant uncertainty around the longer-term outlook. Activity growth had remained resilient.
  • A survey pointed to broadly stable or slightly lower investment spending over the coming twelve months, with uncertainty concerning future demand and trading arrangements expected to drag on spending.
  • Employment was expected to be broadly flat over the next six months and pay settlements were concentrated in the 1–3% range. Price pressures were building through supply chains following sterling’s depreciation, but there had been limited impact on consumer prices to date.

Full document: Agents’ summary of business conditions November 2016 Update

Posted by Sue Robinson on 11/11/2016