This Update covers intelligence gathered from business contacts between late February 2016 and late March 2016. A fuller report for 2016 Q2 will be published on 22 June. This report generally makes comparisons with activity and prices over the past three months on a year earlier. It represents the aggregate view offered from business contacts across the whole of the United Kingdom.
- Annual output growth had been unchanged on the month. Investment growth intentions had weakened a little, mostly reflecting increased uncertainty.
- After a prolonged period of gentle increases, corporate credit availability had tightened slightly for medium and large companies, reflecting less favourable capital market conditions. Access to credit for smaller companies had continued to increase gradually.
- Housing market activity had risen due to increased purchases of properties by buy-to-let investors ahead of April’s stamp duty changes. In contrast, investor demand for commercial real estate had slowed, particularly in London.
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