- All of the recent positive economic news caused the IMF to raise its 2021 U.S. GDP forecast by a giant step to 6.4% (from 5.1% previously estimated). That would represent the strongest annual economic growth rate since 1984.
- The one warning flag is inflation. Producer Price Index rose 1% in March (a 12% annual rate), substantially higher than the economists' consensus expectation of a 0.5% increase.
- Ford and General Motors announced that they are idling or extending plant closures due to the ongoing semiconductor chip shortage.
For further details see:
We Are Now Essentially In Economic Nirvana