BOE Agents’ Summary of Business Conditions

The Bank of England (BOE) is out with its latest Agents’ Summary of Business Conditions, highlighting the following:

Consumer spending growth had moderated in real terms, as spending power had been hit by higher prices

In the labour market, recruitment conditions had tightened a little further

Labour costs growth had edged up in manufacturing. But pay awards remained clustered around 2%–2½% across the economy

Consumer goods price inflation had picked up markedly, largely reflecting the effects of stg’s earlier fall

Investment intentions have also edged higher, consistent with modest growth in spending over year ahead