Overseas Headlines – June 1, 2021

United States:

Americans Are Done With 5-Days a Week in the Office. Here’s What That Means for the Economy

“Americans are shedding their masks, buying concert tickets and booking vacations like it’s 2019. But there’s one thing that’s doesn’t appear to be going anywhere as the pandemic fades: remote work. Companies from Vanguard Group Inc. to Ford Motor Co. are permanently adopting “hybrid” work schedules where employees spend some of the week at home and the rest at an office. Forecasting the implications of these long-term work shifts on the U.S. economy is no small task.”



Euro-Area Inflation Rate Hits 2% for First Time Since 2018

“Inflation in the euro area climbed to the highest level in more than two years after economies across the region started to lift coronavirus restrictions and rebounding demand aggravated supply bottlenecks. Consumer prices rose an annual 2% in May, more than economists predicted, with energy the biggest gainer from a year ago when the region was in full lockdown. Germany, Spain and Italy — three of the four largest euro-zone economies — all reported increases.”



Asia’s Export Sprint Throttles Back to a Marathon Pace

“The last time South Korean exports were this strong was when Canada’s Ben Johnson set a new world record as he won gold at the Seoul Olympics, only to be later disqualified. That’s the historical context for new figures showing South Korea’s exports surged the most since 1988 in May as overseas shipments increased 45.6% from 12 months earlier.”




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