The world economy’s ability to rebound from its recent soft patch will be tested anew this week as data is released from Washington to Beijing.
“While the Fed is not expected to take any policy action at its May 1 meeting, there will be plenty of action behind the scenes,” said Carl Riccadonna, chief U.S. economist at Bloomberg Economics. Elsewhere, China releases its purchasing managers index on Tuesday, the same day that the euro-area is predicted to show its economy steadied in the first quarter.U.S. and CanadaOther major data due include the U.S. report on personal income and spending on Monday, which is forecast to show spending outpacing income. On Wednesday, the Treasury will reveal its latest plan to keep selling debt to plug a record budget deficit. The U.S.
Predict modest Q1 firming to 2.4% global growth after weak Q4 that served as a warning not to threaten massive trade disruptions through see-sawing US-China trade talks. Everyone needs to behave, with no sudden stupid moves (Trump take note).