Hotter U.S. Economy Risks Faster Cooldown as Biden Pushes Plan
“The U.S. economic recovery from the pandemic collapse is starting off a lot hotter but could end up cooling much sooner than the 10-1/2-year record long upswing that preceded it. With a surge of government spending already in train and President Joe Biden’s promise on Wednesday of yet more to come, gross domestic product is primed to skyrocket — beginning with what some economists see as a double-digit annualized rise in the second quarter.”
U.K. Manufacturing Growth Reaches Decade High as Lockdown Eases
“U.K. manufacturing growth accelerated to its highest level in a decade last month as orders jumped in anticipation of looser lockdown restrictions. IHS Markit’s Purchasing Managers Index climbed to 58.9 in March, outstripping economist estimates to deliver its strongest reading since 2011. Factory output expanded at the quickest pace since November, the 10th consecutive month of gains.”
Asian Manufacturing Is Surging on Strong Global Goods Demand
“The world’s manufacturing heartland in east Asia is booming as global trade surges amid the recovery from the pandemic, data from several countries showed. South Korea’s exports rose the most in more than two years in March, while Japan’s large manufacturers turned optimistic for the first time since autumn 2019, figures released Thursday showed. Manufacturing across Asia picked up after the volatile Lunar New Year period, according to purchasing managers’ indexes, indicating the recovery in goods production remains broadly on track.”
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