Economic prospects are likely to brighten, underpinned by a growing likelihood that the economic damage caused by the pandemic is reversing. The New York Fed’s Weekly Economic Indicator points to US economic growth being much stronger than the consensus believes. The Organisation for Economic Co-operation and Development’s (OECD) composite lead indicators are rising across the board — indicating that economic growth will probably rev up in both developed countries as well as developing ones. Essentially, 40 years of pro-business policies are likely to give way to tax, regulatory and other changes that reduce corporate power. With China growing vibrantly and Europe eventually mounting a good recovery by year-end, we would have all the major global economies expanding vigorously and so boosting overall global growth.

Source: The Edge Markets April 21, 2021 04:07 UTC