Agents' Summary of Business Conditions - June 2013

Published on 19 June 2013

Annual growth in retail sales values had continued at a slow pace. Consumer services turnover had also increased a little on a year earlier.
The strengthening in housing market activity seen in recent months had continued.
Investment intentions had remained very modest, though had strengthened a little in the services sector.
Moderate growth in export volumes had continued, and to an expanding range of countries.
Manufacturing output, both for export and domestic markets, had continued to grow slowly.
Output of business services had edged higher.
Falls in construction sector output had shown signs of slowing.
There had been a further, if very gradual, improvement in credit conditions.
Employment intentions among manufacturers and consumer services firms remained flat, but business services employers continued to plan to take on more staff.
Capacity utilisation had remained broadly unchanged, and a little below normal in both manufacturing and services.
The annual rate of growth in labour costs had continued to be subdued.
Inflation in non-labour costs was broadly stable, with the rate of increase in imported finished goods prices somewhat stronger than for many commodities.
The rate of increase in manufacturers’ and business services prices had remained subdued.
The rate of consumer price inflation had flattened off.