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ZGBR - Flash UK PMI Signals Record Surge In Employment But Also Hints At Higher Wages
SPDR Solactive United Kingdom ETF
Strong jobs growth was recorded in both manufacturing and services.
Despite the jump in employment, companies again reported difficulties in meeting the recent surge in demand, as measured by new orders.
Labour shortages in particular have the potential to drive up wage growth, meaning any 'transitory' spike in inflation due to higher materials prices could prove stickier.