Domestic tourists made a record number of trips over the recent Labour Day holiday. But in a sign that consumers are still holding back, daily tourism spending was still a fifth below pre-pandemic levels.
The US and China will reportedly meet soon to discuss the future of the Phase One trade deal. The Biden administration seems unlikely to scrap the deal outright. But we also doubt it is happy with the outcomes so far given little evidence that Chinese purchases of US goods are appreciably higher than they would have been without the deal.
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