However, given the preliminary nature of the new data, caution should be exercised with regard to their interpretation. Second, as regards other financial indicators, although long-term interest rates have risen recently, they are still at low levels by historical standards and the yield curve has levelled off relative to the situation some months ago.
In June, the unemployment rate fell to 4.9 per cent, which is lower than it was before the pandemic. There has been strong growth in jobs across most parts of the economy and job vacancies have been at record highs.