The world has changed immensely over the past three years: the coronavirus outbreak and associated lockdowns resulted in an unprecedented monetary and fiscal response and a temporary supply/demand mismatch which caused inflation to start rising.
PMI services and manufacturing data came in this week for the UK, Eurozone and US.
With regards to the UK, manufacturing PMI reflected a decrease in production from a downturn in orders both domestic and foreign.
The news at the start of the week spoke of the noise surrounding China’s latest GDP figure. Reports noted that GDP grew 0.8% in Q2, versus 2.2% in Q1.
Data this week showed signs of a loosening labour market in the UK. From March to May 2023, the UK witnessed a rise in its unemployment rate, reaching 4.0%.
Jonathan Watts-Lay, Director, WEALTH at work, discusses why the demand for financial education at work is rising.
When it comes to securing our financial future there are often a number of decisions that must be made.
Manufacturing PMI data released on Monday came in lacklustre for both the Eurozone and the UK. In relation to PMI, a figure above 50 indicates an expansion while anything below indicates a contraction.
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