Agents' Summary of Business Conditions - November 2012

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 November 2012
  • Growth in demand for consumer goods had picked up very modestly. Gradual growth in spending on consumer services had continued.
  • The seasonal pickup in housing market activity had been less than expected.
  • Prospects for growth in business investment remained very modest.
  • Export growth had slowed further, with weakness in demand reported to have spread further within the euro area.
  • Demand for business services had continued to grow at a slow pace.
  • Manufacturing output was becoming more affected by weakening international trade prospects.
  • Contacts thought that the fall in construction output might have begun to bottom out.
  • The Funding for Lending Scheme appeared likely to have a more immediate impact on the availability of residential mortgage lending than on business lending.
  • Employment intentions were broadly unchanged, still suggesting that little net job creation was in prospect over the coming six months.
  • Capacity utilisation remained a little below normal and there had been only isolated reports of constraints on output.
  • Upward pressure on labour costs remained subdued.
  • Non-labour input cost inflation continued to slow, assisted by slowing demand in the euro area and in Asia.
  • Output price inflation remained weak, particularly for business services.
  • Consumer goods price inflation was broadly flat at a moderate rate. Consumer services price inflation had edged up very slightly.

PDFAgents' summary of business conditions - November 2012

This page was last updated 31 January 2023