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June 2, 2021

Services activity is starting to accelerate as in-person activity is taking place and goods activity is slowing as a large amount of demand was pulled forward in 2020.

Economic activity is shifting toward services and away from goods as mobility and venue capacity increase.  Durable goods activity declined on a month-over-month (MoM) basis in April for the first time since April of 2020.  Durable goods are typically larger purchases that have long lives, so it was very likely that activity was going to...
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