Business Confidence high – index data.
Ashish Ghosh, 6-23. Ghosh is an India-based finance writer and capital markets analyst. With more than 9 years of experience in capital market, Ashish runs a consulting & advisory business that focuses on investment guidance & trading opportunities. Ashish has been published in high profile online media He holds a B.Sc. in Math. “Wall Street slid on the renewed concern of stagflation.” 23/06/2023. https://www.iforex.in/news/wall-street-slid-renewed-concern-202306232156
On the price front, input cost inflation was the steepest for five months, as companies stated that greater wage bills, in particular, placed further pressure on business expenses. Conversely, companies sought to remain competitive and drive sales which led to a slower uptick in output charges during June. Finally, firms were upbeat in their expectations for output over the coming year, with the level of optimism the highest since May 2022.
Service sector firms registered a quicker rise in input prices at the end of the second quarter. The rate of cost inflation was the steepest for five months, as companies stated that greater wage bills, in particular, placed further pressure on business expenses. Conversely, companies sought to remain competitive and drive sales which led to a slower uptick in output charges during June.