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Bank of England – Agent’s Summary of Business Conditions – March 2014Back

Bank1The Bank of England have published their latest Agent’s summary of business conditions for March 2014.

• Annual growth in the value and volume of retail sales had increased slightly over the past three months. Consumer services turnover growth had also edged higher.

• The recovery in housing market activity had continued.

• Investment intentions had continued to point to moderate growth in capital expenditure in the year ahead.

• Turnover in business services had edged a little higher.

• Manufacturing output for the domestic market had continued to grow steadily. Manufactured exports growth had increased.

• Construction output growth had risen further.

• Credit availability had continued to increase gradually and demand had edged higher.

• Employment intentions over the next six months pointed to modest headcount growth. Recruitment difficulties had edged higher, and were marginally above normal.

• Capacity utilisation had remained close to normal.

• Labour costs per employee had continued to grow moderately.

• Inflation in materials costs and imported finished goods prices had fallen further.

• Output price inflation had edged lower for manufacturing companies, but had risen slightly for business services firms. Profitability had continued to improve overall.

• Consumer price inflation had slowed further, particularly for goods

Please click here to view the full summary.

Posted by Sue Robinson on 21/03/2014