Turnover expectations are particularly negative in the construction sector and business services, according to the Bank’s 12 regional agents

Britain’s decision to leave the European Union will hurt capital spending, hiring and turnover during the coming year, according to a survey of businesses by the Bank of England’s agents.

The 12 regional agents, who speak to hundreds of companies around the UK each month, said that every sector of the economy, from manufacturing to consumer services, was negative about hiring and investment spending plans.

The agents, who are considered the “eyes and ears of Threadneedle Street”, said that turnover expectations were particularly negative in the construction sector, which is vulnerable to economic uncertainty because of the time frames involved, as well as in business services. The expected slowdown in the professional and financial services sector was being affected by weak levels of investment in