Weekly Market Snapshot – April 12th, 2021
Created by: Sam Tenney
- The U.S. recorded a strong March ISM manufacturing index of 64.7, far surpassing the consensus expectation of 61.5. This 37-year record high reflects robust manufacturing activity driven by strong growth in orders, production, and employment, along with increases in prices paid for inputs. The services index also had a strong March, coming in at 63.7, +8.4% up.¹
- In a new study from Rice university, the expected job losses of tax hikes from the Biden administration proposed spending bill could reach upward of 1 million lost jobs within the next decade, with a long term 0.8% impact to the unemployment numbers.²
- As of Saturday, April 10th, China has unveiled its two-tiered rollout of its “Digital Yuan” initiative, as reported by the wall street journal. China will be the first country to adopt a state sponsored digital currency.³
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