US economy sees ‘spectacular acceleration’; UK retail sales surge; China crackdown weighs on bitcoin – as it happened
Rolling coverage of the latest economic and financial news
- Latest: Bitcoin hit by China crackdown call
- US PMI shows ‘spectacular growth’
- But input prices for PPE, transport and raw materials also surge
- UK PMI hits record high this month
- Eurozone firms also growing strongly as lockdown eases
Earlier:
Right, time to wrap up. Here’s a quick recap.
Companies on both sides of the Atlantic have reported a surge in activity this month as lockdowns are eased.
Related: Demand for UK goods and services grows at fastest rate since 1990s
Related: Number of billionaires in UK reached new record during Covid crisis
Related: Rich List 2021: results will renew debate on wealth tax in Britain
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Related: Amigo shares plummet 34% amid fears over compensation case
Related: WeWork’s losses quadruple to $2.1bn as work from home policies halve revenue
Related: Nationwide predicts UK house prices will continue to rise
Related: IMF pushes G20 states to back $50bn global mass vaccination drive
Related: Richest nations agree to end support for coal production overseas
Related: May gales help Britain set record for wind power generation
The US dollar has rallied after today’s US PMI report showed American companies were growing ‘spectacularly fast’.
The news that output was surging, and that raw material shortage were pushing up prices, boosted the greenback. It has pulled the pound back down to $1.415, having hit $1.422 for the first time since February.
