Rebound in U.S. Economy Gathers Steam With Surge in Retail Sales
“U.S. retail sales accelerated in March by the most in 10 months as business reopenings, increased hiring and a fresh round of stimulus checks emboldened shoppers. The value of overall sales increased 9.8% last month in a broad advance after an upwardly revised 2.7% decline in February, Commerce Department figures showed Thursday. Another report showed applications for unemployment benefits plunged last week to a fresh pandemic low.”
Euro Area’s $714 Billion Boom Hope Hinges on Senior Savers
“For the euro area to achieve a jumpstart in economic growth with a consumption boom, a whole generation of citizens who hoard money rather than spend it would need to seize the day and splash out. That’s because a mass of savings built up by wealthier households stuck at home without restaurant visits or vacations during the coronavirus crisis is concentrated among older Europeans, who are less likely to open their wallets than younger counterparts.”
China’s Growth Set to Drive World Economy in Post-Pandemic Years
“China will drive global economic growth in the coming years as the world recovers from an pandemic that’s killed 2.9 million people, the International Monetary Fund predicts. China will contribute more than one-fifth of the total increase in the world’s gross domestic product in the five years through 2026, according to Bloomberg calculations based on IMF forecasts published Tuesday. Global GDP is expected to rise by more than $28 trillion to $122 trillion over that period, after falling $2.8 trillion last year in the biggest peacetime shock to output since the Great Depression.”
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