Agents' Summary of Business Conditions - October 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 22 October 2014
  • Retail sales values growth had eased, reflecting a continued fall in food price inflation. Consumer services values growth had also edged lower.
  • Housing market demand and supply had become more closely aligned and house price inflation had moderated across much of the United Kingdom.
  • Investment intentions for the next twelve months had remained consistent with moderate growth in capital spending.
  • Business services turnover growth had been robust and broad-based across subsectors.
  • Manufacturing output growth for the domestic market had been steady. Manufacturing export volume growth had continued to slow, reflecting softening global demand, adverse geopolitical developments and sterling’s appreciation.
  • Construction output growth had remained strong.
  • Corporate credit conditions had remained close to normal overall, though they continued to vary by firm size and across sectors.
  • Employment intentions had increased further for business services, but had eased in manufacturing and consumer services.
  • Recruitment difficulties had picked up, reflecting a broadening of skills shortages as the economy strengthened.
  • Capacity utilisation had been close to normal for both manufacturing and services.
  • Growth in total labour costs per employee had increased slightly.
  • Material costs and imported finished goods prices had continued to fall on a year earlier, reflecting lower global commodity prices and the effects of sterling’s appreciation.
  • Output price inflation had slowed further in manufacturing, but was little changed for business services. Profitability had continued to rise gently.
  • Consumer price inflation had remained modest.

PDFAgents' Summary of Business Conditions - October 2014 

This page was last updated 31 January 2023