GDP recoveries hint at a stabilising world economy

The last fortnight has seen more evidence that the world economy is stabilising after the growth scare at the start of the year. Most prominently the US economy expanded by 3.2 per cent on an annualised basis in the first quarter, almost twice as strong as the markets expected just a few weeks ago. US jobs growth has also surpassed expectations, with the latest reading reinforcing thoughts of a ‘Goldilocks economy’ which is not too strong and not too soft.

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