- Retail sales values growth had eased, although there was some optimism about seasonal trading prospects. Consumer services values growth had been steady.
- Housing market activity had continued to slow and house price inflation had softened.
- Investment intentions for the next twelve months had eased slightly but remained consistent with moderate growth overall.
- Business services turnover growth had remained relatively strong and broad-based across subsectors.
- Manufacturing output growth for the domestic market had eased, and manufacturing export growth had slowed further.
- Construction output growth had remained robust, with activity continuing to shift towards commercial development.
- Corporate credit conditions had improved further, with signs of an increase in lenders’ risk appetite.
- Employment intentions had eased slightly for manufacturers, but overall remained consistent with modest headcount growth.
- Recruitment difficulties had remained somewhat above normal.
- Capacity utilisation had remained broadly around normal.
- Growth in total labour costs per employee had been steady, although there was some evidence of increasing wage pressures in some subsectors with skills shortages.
- Materials costs, other than for certain construction inputs, had continued to fall on a year earlier. Imported finished goods prices had declined.
- Output price inflation had remained subdued in manufacturing, but had increased for business services.
- Consumer price inflation had eased further for goods and remained subdued overall.
Published on
17 December 2014
Agents' Summary of Business Conditions - December 2014 Other Agents' Summary of Business Conditions
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