Agents' Summary of Business Conditions - October 2005

We regularly publish a summary of reports compiled by our twelve regional Agents following discussions with at least 700 businesses across the UK every reporting period.

Published on 18 October 2005

Growth in the value of consumer spending appeared to have stabilised at a low rate.
Activity began to recover in the housing market.
Exports continued to pick up, reflecting demand from a variety of sources. Imports of consumer goods remained sluggish.
Investment intentions weakened further, partly reflecting uncertainty about the impact of rises in energy prices.
Domestic sales of manufactured goods were weak, but export growth has improved.
The pace of construction output growth slackened.
Service sector output growth was unchanged, with professional services the most buoyant.
The easing in the labour market continued.
Capacity utilisation eased.
Pay pressures remained muted.
Input price inflation picked up, reflecting rising energy and fuel costs.
Overall, consumer price inflation edged higher.