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China and US lead global recovery; Eurozone activity lose momentum Japan rebounds at a slow pace
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Global: The storm has passed, but the danger has not
US: Economy gains momentum, raising hopes for a stronger recovery ahead.
Eurozone: Slow economic activity and vaccine rollout could cap economic recovery.
China: Urban residents still spending cautiously, slowing down the recovery in domestic consumption.
Japan: Improving exports and manufacturing sector could ease latest COVID-19 impact.
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Path to US and Eurozone rate cuts opened by cooling inflation; Chinese producer prices begin to recover on improving real estate sector
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Global: High uncertainty despite hopes for a soft-landing
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Global: Trade war ignites, uncertainty looms, turbulent times ahead
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In 2Q20, US GDP shrank by 32.9% QoQ annualized, the largest contraction since 1947, reflecting the devastating impact of the lockdown
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Global: Reflation concern, recovery hope
Fresh relief bill and accelerated vaccination program will play major roles in boosting consumption
ECB would step up bond purchases in 2Q21 to improve financial conditions
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US: Robust domestic spending and high inflation risks suggest Fed would keep pace of policy tightening; more aggressive move could increase risk of a hard landing.
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Global Economy: Carrying the weight of uncertainty in a high-pressure environment
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Global economy is on a gradual recovery path; COVID-19 crisis leaves permanent loss of supply potential
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