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Financial News: BoE Agents Report: Moderate Rates Of Growth Continued

BoE Agents Report: Moderate Rates Of Growth Continued Overall

03/22/2017 - 07:04:00 (RTTNews)

(RTTNews) - Moderate rates of activity growth in the UK had continued overall, according to Agent's summary of business conditions.

Growth is forecast to slow further during the year ahead as the fall in sterling fed through to higher prices, reducing households' purchasing power, data published by the Bank of England revealed Wednesday. On the other hand, export volume growth had picked up.

At the same time, investment intentions picked up, signaling moderate growth in spending in the year ahead. That reflected continued moderate demand growth and less uncertainty about economic prospects, particularly in the near term.

Growth in the value of consumer spending had remained moderate. But retail sales volumes growth had eased.

Growth in labor costs per employee had remained subdued, survey showed. Employment intentions pointed to very slight growth in staffing over the coming six months.

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