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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Agents' scores