This publication summarises intelligence gathered between mid-April and late May. The Agents’ scores published alongside this document generally represent developments over the past three months compared with the same three months a year ago. Economic activity recovered modestly with slightly improved consumer and business confidence. Input cost inflation continued to decline. Food price inflation remained high but is expected to come down. Lags in the pass-through of price changes along the supply chain and a desire to rebuild squeezed margins will delay the moderating impact of lower material and energy costs on ... (full story)