Agents' summary of business conditions - October 2026

We regularly publish a summary of business conditions based on our Agency network's discussions with many businesses from across the UK every reporting period.

Demand and output

Private sector output growth remains modest with wide variation across sectors. Contacts expect this to continue over the next few months.

Employment and pay

Employment intentions are slightly firmer than last round, but recruitment difficulties remain a little below normal. Pay settlements for 2026 continue to average around 3.6%. Early indications suggest that 2027 will be broadly similar.

Costs and prices

Consumer price inflation continues to edge up as higher energy-related input costs outweigh weak demand and retail competition.

Published on 30 October 2026

Related contents and download

• Bank of England Agents' scores (XLSX 0.8MB)
• Definitions for the Agents’ scores

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