The US recovery has gained momentum over the past month, but tentative signs of improvement elsewhere have already faded, as shown most clearly by the latest business surveys. The US looks set to pull further ahead of the other major economies in the coming months: so far, it has shrugged off the impact of the increase in payroll taxes and across-the-board budget cuts, whereas activity has slowed sooner than even we had expected in China, and much of Europe is in a deep recession.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services