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    US is poised to beat China’s V-shaped recovery: JPMorgan

    Synopsis

    Indications of resilience in global industry, a surge in American retail spending, along with fiscal stimulus around the world, especially from the Biden administration, point to higher growth in the U.S., according to projections from JPMorgan economists led by Bruce Kasman.

    US economy Reuters (1)
    The alignment of US fiscal stimulus and rebound from Covid-19 in Europe will help bring a 7.6% surge in world GDP around mid-year, the economists said.
    The U.S. recovery is accelerating, putting it on course to outperform China’s V-shaped rebound, according to JPMorgan Chase & Co. economists.
    Indications of resilience in global industry, a surge in American retail spending, along with fiscal stimulus around the world, especially from the Biden administration, point to higher growth in the U.S., according to projections from JPMorgan economists led by Bruce Kasman.

    “We now expect the U.S. to outpace China, moving on a path that raises GDP well above its pre-crisis trajectory,” the economists wrote in a note. “We expect a regional gap between the U.S. and China and the performance of the rest of EM to remain large for some time to come.”

    The alignment of U.S. fiscal stimulus and rebound from Covid-19 in Europe will help bring a 7.6% surge in world GDP around mid-year, they said. While the U.S. picture looks particularly promising, recent high-frequency data in China indicates less slowing there than had been feared, they added.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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