November 08, 2021
United States:
Turbocharged U.S. Consumer Plays Key Role in Supply-Chain Snarls
“Amid all the hand-wringing over global supply-chain snarls and how they’re fanning inflation, little attention in the U.S. is being paid to the demand side of the economy. That’s despite mounting evidence that the American consumer’s supercharged spending habits are playing at least as big of a role in stoking higher prices as the bottlenecks of imported goods in West Coast ports.”
Europe:
BOE’s Pill Offers Reason Why U.K. May Beat Fed to Raising Rates
“Bank of England Chief Economist Huw Pill said the pace of wage inflation in the U.K. is likely to exceed that of both the U.S. and the eurozone. The remark a day after the U.K. central bank unexpectedly left interest rates on hold helps explain why Britain may be the first major economy to tighten monetary policy since the start of the pandemic.”
Asia:
China Trade Surplus Can Cushion But Not Stop Slowdown
“China’s record trade surplus is cushioning the economy from weakening domestic demand and giving policy makers room to delay stimulus. But it won’t be enough to keep growth from slowing further. Export growth has exceeded analyst estimates for three straight months, and the trade surplus reached $84.5 billion in October, data released Sunday showed. Problem is, gross domestic product is now so large that overseas demand can’t replace easing investment and consumer spending.”
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