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Podcast: Beyond Currency
Episode: 24 June 2021 - Activity trumps inflation, for now
Description: "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...