The pound has strengthened against the euro this morning but is struggling against the dollar as Covid variants continue to cause some angst.
At the latest government meeting regarding international travel, Portugal was removed from the ‘green list’ and no new countries were added. This has come as a big shock to the travel and tourism industry, with Virginia Messina, the vice-president of the World Travel & Tourism Council, calling the move a “huge disappointment for businesses and holidaymakers”.
Markit PMI increased for both manufacturing and service sectors in May, as businesses and consumers continued to spend. It was the fastest rate of growth for service companies in 24 years. This rise in business activity has had a positive knock-on effect on the labour market too, with employment seeing the strongest rate of growth in six years.
