Agents' Summary of Business Conditions - January 2008

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 21 January 2008
  • Consumption growth remained well below its rate earlier in 2007. Growth in the value of Christmas sales was also less than at the same time a year earlier, and retailers resorted to extensive discounting. See the box on the Agents’ retail survey.
  • The easing in demand for housing continued, and house price inflation fell.
  • Investment intentions fell further, with weaker intentions evident in both the services and manufacturing sectors, in part reflecting tighter credit conditions.
  • In contrast to the slowdown in domestic spending, demand for exports remained buoyant.
  • Growth in manufacturing was solid. Growth in construction and service sector output slowed further, albeit from high levels, so that growth in aggregate output also slowed.
  • Employment intentions fell, and recruitment difficulties eased somewhat.
  • Capacity pressures lessened, especially in service industries.
  • Growth in total labour costs remained well contained, with little change expected in 2008.
  • Annual input price inflation was unchanged in December following a rebound in preceding months. Annual output price inflation was unchanged.
  • Annual consumer price inflation increased, with the effects of non-food discounting more than offset by increases in the prices of fuel and food.


PDFAgents' summary of business conditions - January 2008

Other Agents' Summary of Business Conditions

This page was last updated 31 January 2023