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Podcast: Beyond Currency
Episode: 24 April 2023 - Flash PMIs show the strongest growth in a year
Description: The modest return to growth signalled by Q1 GDP was bolstered by the release of flash PMI data on Friday which showed the largest increase in almost a year.
The UK economy is heavily tilted towards services output which makes up about 80% of total output.
In April services output rose to a level of 54.9 after a march figure of 52.9, while manufacturing continued to languish falling to 46.6 from 47.9 last month.
Inflationary pressures continue to wane in manufacturing, but demand for services will see prices continue to rise in that sector.
Demand for financial services was one of the main contributors to...