Agents’ summary of business conditions and results from the Decision Maker Panel - 2017 Q4

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 20 December 2017

This publication includes a summary of economic reports compiled by the Bank of England’s Agents between late August 2017 and late November 2017. It generally makes comparisons with activity and prices a year earlier.

This publication also includes a summary of information gathered by the Bank’s recently established Decision Maker Panel.

  • Recruitment difficulties were a growing concern for businesses as labour shortages had become more generalised across sectors and skill levels.
  • Despite this, pay growth had only increased a little, reflecting greater focus on non‑pay benefits, a limited number of pay reviews in Q4, and rising input costs. Staff retention and recruitment, and to a lesser degree, inflation, were expected to push pay settlements moderately higher in 2018.
  • Consumption growth had eased slightly, reflecting squeezed real incomes and possibly some anticipation of Black Friday. Purchases of big ticket items had eased, and mild weather earlier in the period had weighed on clothing sales.

PDF Agents’ summary of business conditions and results from the Decision Maker Panel - 2017 Q4

Response to consultation on changes to Agents' scores

This page was last updated 23 November 2018
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