Latest Bank of England regional agents report now published 9 Aug

  • Consumer spending growth had eased slightly further in values terms. Manufacturing output growth had risen again, with exports supported by the past fall in sterling. Investment intentions were consistent with modest growth in spending over the year ahead.
  • Recruitment difficulties had edged higher and broadened slightly. Pay awards were clustered around 2%-3%.
  • Consumer goods price inflation had picked up further, largely reflecting the effects of the past fall in sterling feeding through into retail prices. Consumer services price inflation had also edged higher
  • Housing market activity had remained muted. The market for new homes remained stronger overall than the secondary market, supported by Help to Buy.

    • The BOE regularly publish a summary of reports compiled by its 12 regional Agents following discussions with at least 700 businesses across the UK every reporting period. The report provides information on business conditions from firms across all sectors of the economy.

    This publication generally covers intelligence gathered from business contacts between June and mid-July 2017. It generally makes comparisons with activity and prices over the past three months on a year earlier.

    Full report here

    The MPC take a lot of this on board as Carney highlighted in last week's presser.

    GBPUSD currently testing 1.3000 again on the less than upbeat mood shown by this report but EURGBP still on session lows as EUR supply generally prevails led buy EURCHF.

    EURGBP posting new session lows OF 0.9011