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24 June 2021 - Activity trumps inflation, for now
"Concerns about rising inflation are clearly for another day, as the financial markets enjoyed a day when the data was nothing but encouraging.
Services output was a little lower than seen in May, but it was still well above the 60 level, and that means that the recovery is still in full flow.
The June flash estimate for services output was at 61.8. This is very positive given the 4:1 ratio of services output when compared to manufacturing.
There have been lingering concerns that employment issues in the services sector may catch up either this or next month, which could slow output. This hasn’t been the case so far but with the next time this data will be released, it will be following the first part of the withdrawal of furlough support, so we could see a dip.
"
Beyond Currency Market Commentary:
Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.
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By CurrencyTransfer
5
11 ratings
"Concerns about rising inflation are clearly for another day, as the financial markets enjoyed a day when the data was nothing but encouraging.
Services output was a little lower than seen in May, but it was still well above the 60 level, and that means that the recovery is still in full flow.
The June flash estimate for services output was at 61.8. This is very positive given the 4:1 ratio of services output when compared to manufacturing.
There have been lingering concerns that employment issues in the services sector may catch up either this or next month, which could slow output. This hasn’t been the case so far but with the next time this data will be released, it will be following the first part of the withdrawal of furlough support, so we could see a dip.
"
Beyond Currency Market Commentary:
Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.