Overseas Headlines – May 31, 2021

United States:

Take Two on U.S. Jobs to Show If Tepid Data Was a Blip: Eco Week

“The U.S. jobs report due on Friday augurs a pivotal moment for investors to assess whether surprisingly tepid job gains seen last month were a momentary blip or the start of something more persistent. Payrolls may have risen by 650,000 in May, according to the median estimate in a Bloomberg survey of economists. That would be a significant acceleration from the previous disappointing gain of 266,000, though still a moderation from the million-plus increase originally anticipated when that last report was published.”



German Inflation Climbs to Highest Since 2018 as Lockdown Eases

“Germany’s inflation rate rose to the highest level since October 2018 after local authorities started to lift coronavirus restrictions on restaurants, shops and cultural venues. Consumer prices in Europe’s largest economy increased 2.4% in May, exceeding economists’ estimates for a 2.3% gain. The reading adds to pick-ups in Spain and Italy released earlier on Monday, and a report for the euro area on Tuesday is expected to show inflation rising to 1.9%.”



China’s Supply Chain Frontliners Bear Brunt of Surging Costs

“China’s factories, power plants and farms are fielding the worst effects of a surge in commodity costs that’s yet to hurt the wallets of the nation’s citizens. Electronic goods makers are balking at the volatility in raw materials prices and are cutting orders for rods and pipes, said Henan Qixing Copper Co. That’s a double blow for the supplier of metal parts, which is already dealing with soaring refined copper prices.”




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