Divergence in economic indicators across the globe is getting wider with Covid continuing to haunt some regions while other parts get back to business. Here is a round up of the economic data across the globe-:
US Inflation Worries
- U.S. Consumer Prices Jump Most Since 2008
- Core CPI rose 4.5% from June 2020, largest jump since1991.
- Inflation data in the US tops all estimates
- As per Bloomberg data, April-June the core CPI increased at a more than 8% annualized rate
- Core CPI increase in April-June is the fastest since the early 1980s.
China GDP Watch
- China's economic growth to more than halve in Q2
- China expected to post a GDP headline number of about 8 per cent growth (YoY) for April-June
- Nomura: Downward pressure on growth will likely increase in H2
- Expectation of policy easing rising after reserve requirement was cut