Inflation readings in China and the US highlight this week’s economic data.
China’s imports are expected to surge in May due to higher commodity prices and lower levels from the same period last year, according to 16 economists surveyed by The Wall Street Journal. Imports in this country are projected to increase by 53% from a year ago. Outbound shipments, the main growth engine of the Chinese economy, are expected to increase by 32.3%. The country’s trade surplus is expected to reach $ 47.9 billion, compared to $ 42.9 billion in April.
US trade deficit It hit a record high in March as federal stimulus revitalized consumers and boosted import demand to a record high. Economists predict that the April trade gap will close, but overall numbers are likely to continue to rise as the US reopening is gaining strength.
According to median forecasts of 16 economists, factory-shipped inflation in China is expected to reach higher levels in May for more than a decade, triggered by rising commodity prices. The Producer Price Index is projected to rise 8.6% year-on-year, the highest level since August 2008. Meanwhile, the consumer price index is expected to rise 1.5% a year in May, compared to a 0.9% increase in April.
The European Central Bank will issue a policy statement and staff forecasts. ECB in March Promises to accelerate purchases As economic growth slows, we are implementing a € 1.85 trillion bond purchase program to reduce borrowing costs. Some economists will soon curtail these purchases as Covid-19 vaccinations increase, pandemic restrictions are relaxed, activity accelerates, and inflation exceeds central bank targets. Looking for signs of
Ahead of Economic Week: Imports, Unemployment Insurance, Inflation
Source link Ahead of Economic Week: Imports, Unemployment Insurance, Inflation