Overnight China reported disappointing export data, missing expectations of +5%. The gvoernment explained this on the basis that they were losing their competitive edge since the Yuan has strengthened to 20 year highs but perhaps most telling is that fact that, as the FT reports, China became the world's biggest trader in goods for the first time last year - overtaking the US for all of 2013.
The consumer is coming back. Manufacturers are seeing the pick-up in spending growth as reason to expand production
NEW YORK/LONDON — Manufacturing in China and the United States grew this month at the fastest pace in about two years while data suggesting German growth picked up boosted hopes for a swifter eurozone recovery.
The euro-area economy expanded more than forecast in the final quarter of 2013, led by Germany and France, easing pressure on the European Central Bank to take action next month to counter low inflation and spur growth.
Gross domestic product in the eurozone rose 0.3% after a 0.1% increase in the third quarter, the European Union’s statistics office in Luxembourg said Friday. That beats the median forecast of 0.2% in a Bloomberg News survey of 41 economists.
Several weeks ago we reported that in response to ongoing alienation of Russia by the west Putin was aggressively setting the stage for Russia's eastward expansion, set to culminate with a "holy grail" gas deal with China.
The economy in the U.S. grew at a faster pace in the first quarter, reflecting the biggest increase in consumer spending in two years as households overcame a drop in incomes by putting less money in the bank.