Build Back Better Push, Holiday Sales, China Squeeze: Eco Day

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Welcome to Monday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• The Biden administration is seeking a path forward for its “Build Back Better” economic stimulus and social spending plan, Vice President Kamala Harris said
• U.S. holiday sales jumped 8.5% from last year as consumers spent more money on clothes, jewelry and electronics, a report from Mastercard SpendingPulse showed
• New York City’s museums, concerts and Broadway theaters are desperately trying to keep their doors open amid a surge in Covid-19 cases, but the onslaught is overwhelming a tourism industry that had just started to regain its footing
• The world economy is set to surpass $100 trillion for the first time in 2022, two years earlier than previously forecast, according to the Centre for Economics and Business Research
• China’s industrial firms are doing much better this year than in 2020, but the improvement in profits is patchy, with miners and raw material providers benefiting from higher commodity prices at the expense of manufacturers
• Finally, take a look at Bloomberg Economics’ U.S. inflation gauge dashboard and here’s what to watch in the U.S. economy this week

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