- Economic growth has grown solidly in the last year
- Demand for commercial property has increased.
- Recruitment difficulties continue to increase
The latest Bank of England Agent’s summary of business conditions for Quarter 3, 2015 was released this week.
The summary noted that overall activity has grown solidly in the last year, with increased demand being attributed to rises in real incomes and credit availability. However export driven growth is subdued.
Demand for commercial property has increased in pace with economic activity and investment in this sector had remained strong. In contract housing market activity has not picked up at the pace expected.
Recruitment difficulties continue to increase, with signs of building pressure on labour cost growth in the service sector. Service sector price inflation has remained modest and goods prices are lower than a year ago.
