INT
China manufacturing PMIs imply firmer private activity
China’s unofficial manufacturing PMI was solid at 51.7 in May, a clear contrast with the official equivalent contracting
ChinaStock market rally has firm foundations but also risks
Fourteen of the 20 largest stock markets have hit all-time highs recently
InternationalChina’s 5% growth target is becoming less plausible
The country’s official manufacturing PMI fell into contraction territory in May and services activity also softened
ChinaLimited ECB rate cut scope in the second half of 2024
Euro-area inflation rose to 2.6% in May, the first acceleration this year and driven by higher services inflation
EURaising UK incomes is a priority but is challenging
UK real income growth has been very modest since 2010, compared to both past decades and other major economies
United KingdomClimate adaptation risks being dangerously underfunded
The OECD report ‘Climate Finance and the USD100bn goal’ gives new detail on climate funding to developing economies
InternationalWorkforce underuse fuels political instability
The International Labour Organization has reduced its forecast for global unemployment but highlights workforce underuse
InternationalHousing is key to US economic performance and policy
US consumer confidence edged up in May but so did recession expectations; house prices remain historically high
United States
