Details of the Q3 2017 Bank of England Agents summary of business report 20 September 2017
- Households had responded to squeezed incomes by trading down or focusing on essential purchases. As a result, demand growth had slowed across a number of consumer-facing sectors, and modest nominal consumer spending growth primarily reflected price inflation.
- Investment intentions indicated weaker growth within services, but were more positive for goods exporters.
- Growth in labour costs per employee had been subdued, with settlements clustered around 2% to 3%. Recruitment difficulties remained elevated, with conditions becoming very tight for some skills.
- The impact of past falls in sterling on consumer goods price inflation appeared to have reached its peak. Consumer services price inflation was steady overall
The full report is here. BOE agents of business report Q3 2017