Business Outlook SurveyOverview
ƒƒ . Responses to the summer survey suggest that
businesses generally remain positive about the
outlook, but are mindful of renewed uncertainty
regarding the global economic environment.
ƒƒ . Firms continue to expect sales growth to
increase over the next 12 months, although
the balance of opinion has declined from its
high level in the spring survey. The balance of
opinion on employment rose, with plans to hire
over the next 12 months widespread across
regions and sectors, but concentrated among
small and medium-sized firms. Intentions to increase investment remain robust.
ƒƒ . The indicator of capacity pressures moved up modestly, although reports of labour shortages
are little changed, and firms expect input and output prices to rise at about the same rate as
over the past 12 months. Inflation expectations have moved down and remain concentrated
within the Bank’s inflation-control range.
ƒƒ . By a narrow margin, firms reported that credit conditions tightened over the past three months.
Reports of tightening were concentrated among small and medium-sized firms and were often
attributed to firm- or sector-specific factors.
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