Bank of England: Agents’ Summary of Business ConditionsBack
This update covers views gathered from business contacts by our Agents across the UK between late June 2016 and late July 2016. It compares activity and prices over the past three months with a year earlier. The report does not represent the Bank’s own views, nor does it represent the views of any particular company or region.
Agents’ scores for employment and investment intentions had weakened, pointing to expectations of little change in staff numbers and capital spending over the coming six to twelve months.
Business services growth had softened further, partly reflecting weakness in commercial property investment and corporate transactions.
Annual consumer spending growth had slowed, although that appeared to have partly reflected the effects of unusually wet weather.
Consumer price inflation had been little changed. Contacts expected goods price inflation to increase as a result of weaker sterling, albeit more quickly for some products than others.