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PR Newswire
23-08-2013, 11:38 AM
A summary of the current global economic position...
US, China, Europe data point to global rebound
NEW YORK — Business surveys yesterday suggested that the world economy was on the mend, with United States and Chinese manufacturing activity at multi-month highs and better-than-expected growth in the euro zone.
The data should bolster the case for the Federal Reserve to start withdrawing support for the US economy this year — possibly as soon as next month — and enhance the appeal for investors of developed economies in North America and Europe.
Markets are nervous about Fed plans to pare back the US$85 billion (S$109 billion) in bonds it has been snapping up every month. But a Fed retreat would amount to a vote of confidence in the world’s largest economy, an important anchor for global growth.
“Tapering would be a sign that the Fed believes the US economy is gaining some traction. It signals that the recovery is more solid,” said economist Philip Shaw. “There are signs that momentum is building, albeit slowly, in the pace of the euro zone recovery, and in China too.”
http://www.todayonline.com/world/america...al-rebound
US, China, Europe data point to global rebound
NEW YORK — Business surveys yesterday suggested that the world economy was on the mend, with United States and Chinese manufacturing activity at multi-month highs and better-than-expected growth in the euro zone.
The data should bolster the case for the Federal Reserve to start withdrawing support for the US economy this year — possibly as soon as next month — and enhance the appeal for investors of developed economies in North America and Europe.
Markets are nervous about Fed plans to pare back the US$85 billion (S$109 billion) in bonds it has been snapping up every month. But a Fed retreat would amount to a vote of confidence in the world’s largest economy, an important anchor for global growth.
“Tapering would be a sign that the Fed believes the US economy is gaining some traction. It signals that the recovery is more solid,” said economist Philip Shaw. “There are signs that momentum is building, albeit slowly, in the pace of the euro zone recovery, and in China too.”
http://www.todayonline.com/world/america...al-rebound
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