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PMI: Price pressures easing, employment unch while output increasing

UK DATA
  • Largely in line with expectations, and the components show nothing surprising here: input price inflation at a 2-year low, price charged raised at the slowest rate since August 2021 although "many businesses suggested that squeezed margins, ongoing wage inflation and uncertainty about energy costs had limited their ability to discount prices."
  • Employment levels are broadly unchanged "although job creation hit a three-month low in the service economy, while manufacturers cut their staffing numbers at a faster pace than in February."
  • Private sector output is increasing - which received more focus yesterday from the MPC than had been previously anticipated.

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