U.S. Growth Outlook, Chinese Exports, Economic Divides: Eco Day

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

  • Goldman Sachs Group Inc. economists raised their growth forecasts for the U.S. this year after Democrats secured control of the Senate. A number of observers have predicted that a win would raise chances of another federal stimulus package
  • Bloomberg Economics predicts additional near-term pandemic relief and accompanying stimulus could stretch into the $600 billion to $800 billion range
  • Global demand for Chinese goods has been so strong recently it’s creating a shortage of containers and driving up shipping costs. Exports have been on a tear since July last year, fueled by pandemic-related purchases like medical masks and work-at-home equipment
  • Japanese wages fell in November for an eighth straight month, dropping at more than double the pace expected by economists, as employers continued to be cautious about the profit outlook amid a global resurgence of the coronavirus
  • The U.K. birth rate may plunge to a record low this year amid a Covid-induced economic slump, according to PwC
  • Economic confidence in the euro area picked up in December, with manufacturers in particular showing resilience against a resurgent pandemic that’s triggered tougher restrictions across the region
  • Finally, check out this week’s Stephanomics podcast on how the pandemic laid bare U.S. economic and political divides

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