Agents' Summary of Business Conditions - November 2013

• Growth in the value of retail sales and consumer services had been unchanged, in the past three months on a year earlier. However, retail sales growth had appeared to soften in recent weeks.
• Demand for house purchase had continued to strengthen, outpacing the increase in supply.
• Investment intentions had remained modestly positive.
• Manufacturing output growth had edged higher.
• Growth in business services turnover had risen slightly, with a broadening of growth across subsectors.
• Annual growth in construction output had continued to recover, driven by new housebuilding.
• Corporate credit availability and demand had continued to increase gradually.
• Employment intentions had edged higher and were consistent with modest employment growth over the next six months.
• Reports of recruitment difficulties for skilled labour were becoming more widespread across the economy.
• Capacity utilisation was approaching normal levels in manufacturing and services.
• The annual rate of growth in labour costs had remained moderate.
• Inflation in materials costs had continued to be modest.
• Output price inflation had remained subdued, though had edged up for business services.
• Consumer prices had continued to rise at a moderate annual rate, largely driven by administered and regulated prices.

Agents' summary of business conditions - November 2013

• Agents' scores (xlsx)
• Definitions for the Agents’ scores
• Response to consultation on changes to Agents' scores