Agents' Summary of Business Conditions - April 2014

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 23 April 2014

Annual growth in the value of retail sales had eased, with growth in consumer services turnover little changed.
Housing market transactions had continued to rise strongly.
Investment intentions had continued to strengthen.
Growth in business services turnover had increased, largely due to rising activity among professional and financial services firms.
Growth in manufacturing output had picked up further, both for the domestic market and for export.
Growth in construction output had remained robust, led by house building.
Corporate credit availability had continued to ease, though it remained tight for small companies.
Employment intentions had edged up further. Recruitment difficulties had remained slightly above normal.
Capacity utilisation had remained close to normal.
Annual growth in labour costs per head had remained moderate, though had edged higher in the service sector.
Materials costs and imported finished goods prices had been little changed on a year earlier.
Output price inflation had remained unchanged. Profitability had continued to improve gradually as turnover had risen.
Consumer price inflation had been unchanged, remaining higher for services than for goods.