This publication summarises intelligence gathered by the Bank’s Agents between mid-November and early December.
The Agents’ scores published alongside this document are based on information gathered between mid-October and late November. During the early stages of the pandemic, economic activity fell at an unprecedented pace, reflected in some Agents’ scores moving to the extremes of their range, where scores can be consistent with a wide range of outcomes.
Although activity has recovered relative to troughs earlier in 2020, a number of the Agents’ scores have remained very low. In part, that reflects activity in some areas remaining consistent with the extremes of their distribution, despite the recovery — especially as most scores compare the current situation with a year ago. However, some scores appear to be providing a somewhat weaker steer than other data sources on this basis too.