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Podcast: Beyond Currency
Episode: 5 May 2023 - Economy beginning to show some resilience
Description: The composite Purchasing Managers Index which shows the output for the manufacturing and services sectors combined climbed further away from contraction last month, reaching 54.9 after a reading of 53.9 in March.
This places the threat of a recession firmly in the rearview mirror for the Government and should allow the Bank of England to continue to concentrate on bringing inflation down, closer to its target of 2%.
The Monetary Policy Committee meets next week with a decision on short-term interest rates to be announced on Thursday.
The PMIs are becoming a further economic indicator for analysts and the data for the construction...