The UK services #PMI hit a 6-month low in August (55.0) with supply shortages contributing to slower growth. Meanwhile, staff recruitment picked up to a 25-year high, but competitive labour market conditions led to steep wage pressures. Read more: https://t.co/Sc26NQB2AQ pic.twitter.com/Ptw495FqMd— IHS Markit PMI™ (@IHSMarkitPMI) September 3, 2021
In the medium term the supply shortages will be resolved by market forces and retraining. However, in the short term, prices driven by rising wages will increase and there will be supply disruptions.
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