US | Recovery Tracker ends May firing on all cylinders
Our US Recovery Tracker finished May on a high note, rising 1.5ppts to 94.6 in the week ended May 28. A Memorial Day boost to demand, looser financial conditions, better health conditions, more robust production, and stronger employment lifted the tracker to a new recovery peak.
What you will learn:
- Five of the tracker’s six dimensions rose in the final week of May.
- Regional recoveries maintained an encouraging trajectory through the final week of May, according to our State Recovery Trackers (SRTs).
- All regions except the East registered higher SRT readings, with the Southwest and Mountains recording the strongest advance.
Big shifts are underway in Russia-China trade
Data for Q3 on the volume of China's imports of crude from Russia show a drop against the June level. Rather than an indication that China's demand has peaked, this may be a sign that China is preparing for the Russian oil price cap recently agreed by G7 by shifting some of its purchases to the grey market.Find Out More
Indonesia likely to miss fiscal target in 2023
We expect Indonesia's budget balance to show a large deficit in H2 of this year as the cost of fuel subsidies is finally reflected in the fiscal accounts.Find Out More