The GDP estimates of the two economies have been revised again, with other important data on the Chinese economy coming up tomorrow
The top revisions of global growth estimates continue. The World Bank has raised it to 5.6% for the current year, up from 4.1% in the January estimate. If confirmed, it would be the strongest person since 6.6% of 1973 almost half a century ago, with a full recovery and a good positive margin of -3.5% of the year of the epidemic.
America in strong growth
Estimates are particularly positive for the United States, which has risen to 6.8%, more than double the estimate of 3.5% in January alone, but expectations for China are even stronger, with Beijing setting a GDP growth target of 8.21% in 2021, all set at ‘more than 6%’. After producer prices soared to a 12-year high, this week’s key data came from China.
New data from China
Industrial production and retail numbers are due out tomorrow, with analysts expecting a slowdown in May compared to April. So far the Chinese economy has been driven more by exports than domestic consumption, but this trend is not expected to last as economies in other parts of the world reopen. Another factor blocking growth could come from the Beijing government, which has cut public spending and returned to a control policy after stimulus to fight the epidemic.