This publication generally covers intelligence gathered from business contacts between June and mid-July 2017. It generally makes comparisons with activity and prices over the past three months on a year earlier.
- Consumer spending growth had eased slightly further in values terms. Manufacturing output growth had risen again, with exports supported by the past fall in sterling. Investment intentions were consistent with modest growth in spending over the year ahead.
- Recruitment difficulties had edged higher and broadened slightly. Pay awards were clustered around 2%–3%.
- Consumer goods price inflation had picked up further, largely reflecting the effects of the past fall in sterling feeding through into retail prices. Consumer services price inflation had also edged higher.
Agents' Summary of Business Conditions - August 2017