Agents' summary of business conditions - August 2015

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 12 August 2015

This publication is a summary of monthly reports compiled by the Bank of England’s Agents following discussions with contacts in the period between late June 2015 and late July 2015.

  • Growth of consumer services turnover had eased slightly. Retail sales values growth had been steady.
  • Housing market activity had been stronger than at the start of the year, despite a continued shortage of properties available for sale.
  • Investment intentions had edged down for manufacturing, but remained consistent with moderate growth overall.
  • Business services turnover growth had remained robust and broad-based.
  • Manufacturing output growth had been steady.
  • Construction output growth had edged up slightly.
  • Corporate credit conditions had been little changed.
  • Employment intentions had eased slightly, but remained consistent with moderate growth.
  • Recruitment difficulties had risen, and were at their highest level since 2007.
  • Capacity utilisation had remained slightly above normal in services, and marginally below normal in manufacturing.
  • Growth in total labour costs per employee had changed little in services, although there were signs of building pressures. Manufacturing pay growth had edged lower.
  • The rate of decline in materials costs had eased. Imported finished goods prices had remained slightly lower than a year earlier.
  • Manufacturing output prices had remained slightly lower than a year earlier. Business services price inflation had fallen slightly.
  • The rate of decline of consumer goods prices had eased slightly, and retail services inflation had edged higher.

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This page was last updated 31 January 2023