Latest BOE agents survey November 2015
- Activity grew strongly vs last year but at a slower rate than earlier in the year
- Slowing most notable in manufacturing, which also saw weaker investment intentions
- Robust consumer confidence supported services which remains buoyant
- Weaker overseas demand, strength of sterling continued to weigh on exports and had increased competition in domestic markets from foreign businesses
- Those factors were negatively affecting business confidence, particularly manufacturing
- Total labour cost growth remained modest
- Pay pressures were reported to be building in some areas where recruiting was more difficult, such as professional services and construction
- Hiring intentions had eased alongside slower growth and increased focus on raising productivity
- Credit availability remained good for most with high levels of competition among lenders
- Capacity utilisation remained below normal for manufacturing, above normal for services
- CPI continued to fall but pace had eased. Consumer services prices continued to increase modestly
A pretty fair summarisation. The full report for Q4 will be out in December
