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Business conditions cool as retail inflation eases
Business conditions eased further in December, continuing a cooling trend that gradually brought conditions back to around their long-run average over the course of 2023. Survey measures of trading conditions and employment fell in the month, while capacity utilisation also eased. The decline in conditions was led by manufacturing and construction. Elsewhere, conditions remained weak in retail but remained elevated in the services sectors. Business confidence rebounded on the back of a recovery in retail confidence but remains well below long run average. Importantly, there were clear signs of further easing in input ... (full story)