Daily Management Review

Bank Of England’s Survey Reinforces Signs of ‘Weaker Economy’


08/11/2016


Consumer spending slows down while business services begin to crawl.



On Wednesday, the 10th of August 2016, the Bank of England came out with a survey result that deals with the slow growth of business services and the customer spending rates, which has been partly affected by Britain’s voting decision to quit EU.
 
According to the regional survey carried out by BoE in the month of August, “companies expected the referendum would have a negative effect on capital spending, hiring and turnover over the coming year”. The entire results of the survey have been published in the “quarterly Inflation Report” of last week, whereby BoE’s “network of agents” reported in its monthly report:
"Business services growth had softened further, partly reflecting weakness in commercial property investment and corporate transactions”.
"Consumer spending growth had also slowed, although that appeared to have partly reflected the effects of unusually wet weather”.
 
 
 
 
References:
http://www.reuters.com/







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