This publication is a summary of monthly reports compiled by the Bank of England’s Agents between late May 2016 and late August 2016. It generally makes comparisons with activity and prices a year earlier.
- The annual rate of activity growth had slowed overall as uncertainty had risen following the EU referendum, although it had remained positive. However, business sentiment had improved slightly in August following a marked dip in the immediate aftermath of the referendum.
- Consumer spending growth and confidence had been more resilient. Although housing market activity had fallen markedly in London and in parts of the surrounding area, it had held up relatively well in other parts of the United Kingdom.
- Companies’ investment and employment intentions had fallen, and were consistent with broadly flat levels of capital spending and employment over the coming six to twelve months.