United States: The first-quarter GDP report was roughly in line with expectations.
• The economy has almost recovered.
• Higher consumer spending (mostly on goods) drove much of the gains last quarter
Eurozone: Germany’s unemployment unexpectedly increased.
Europe: Next, we have some data on EU exports to China.
China: We are getting some contradicting PMI data this month.
• The Markit manufacturing PMI report showed faster growth (above forecasts). That’s consistent with the World Economics SMI trend
• However, the official PMI report showed slower growth.
Emerging Markets: India’s interest expenses are putting a heavy burden on the government’s finances.
Food For Thought: Most-watched TV news interviews:
Edited by Devon Lall
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