United States:
U.S. Imports at Full Speed Show Uneven Global Recovery Pace
“A surge of imports into the U.S. economy shows little sign of slowing down, clogging American ports and highlighting ways the pandemic is still causing imbalances in the global recovery. Consider the number of inbound shipping containers through the 10 largest U.S. ports. They rose 12.5% in January from a year earlier after a 23% surge a month earlier and a 25% jump in November, according to data compiled by John McCown, an industry veteran and founder of Blue Alpha Capital.”
Europe:
Sunak’s Zeal to Repair U.K. Finances Swims Against Global Tide
“Chancellor of the Exchequer Rishi Sunak’s determination to bring Britain’s public finances under control marks a very different tone from the global consensus for uninhibited crisis spending. In a prelude to his annual budget on Wednesday, the finance minister gave a series of interviews to warn about future tax increases and spending cuts that will be needed to offset 300 billion pounds ($418 billion) of aid handed out since the coronavirus pandemic struck, even as the U.K. stays frozen in its third national lockdown.”
Asia:
South Korea’s Manufacturing Powers Ahead Even as China Slows
“South Korea’s manufacturing activity expanded at the fastest pace in more than a decade in February, even as the Lunar New Holiday across Asia cut demand and spurred a slowdown in China. A report Tuesday from IHS Markit showed a purchasing managers’ index for Korean manufacturing jumped to 55.3 last month, rising further above the 50-threshold that separates expansion and contraction to mark the highest reading since April 2020.”
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