- 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.
Published on
20 November 2013
Other Agents' summary of business conditions
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