China’s Record Growth, U.S. Recovery, ECB Bond Buying: Eco Day
Happy Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help take you through to the weekend.
- China’s economy soared in the first quarter as consumer spending strengthened, joining production and investment in recovering from the Covid slump a year ago. Bloomberg Economics’ Chang Shu sees hidden recovery constraints beneath the record reading
- The European Central Bank will slow its emergency bond-buying by July and signal at the end of this year that the program will come to a halt in March 2022, according to a Bloomberg survey of economists.
- The U.S. economy’s comeback is firing on all cylinders with jobs, retail spending and manufacturing exhibiting strong gains
- President Joe Biden’s strategy of bolstering labor unions as a way to enhance American workers’ pay is running up against a half century of setbacks for organizing workers
- Italy’s debt this year will exceed the country’s previous record amassed in the aftermath of World War I, laying bare the debilitating cost of the coronavirus pandemic on the euro-zone’s third-biggest economy
- A senior BOJ official downplayed potential for China’s digital yuan to threaten the dollar’s position as the world’s main reserve currency
- Ngozi Okonjo-Iweala promised that life at the World Trade Organization on her watch would not be business as usual. So far, she’s delivering
- Analysis by Bloomberg Economics based on alternative data suggests global economic activity continued its recovery in March and early April
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