The latest Bank of England Agent’s summary of business conditions for November 2015 was released today.
The summary identified that activity had continued to grow solidly on a year ago but at a slower rate than earlier in the year. The slowdown has been most noticeable in manufacturing.
Weaker overseas demand growth and the strength of sterling has continued to weigh down on exports. This again has affected confidence of UK businesses particularly those in manufacturing.
Labour cost growth has remained modest. Pay pressures were reported to be building in some areas where recruitment difficulties were the greatest, such as professional services and construction.
