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The recently passed $1.9 trillion stimulus package (i.e., the American Rescue Plan Act of 2021) significantly ratchets up the growth outlook in the United States for 2021 and carries some of that growth into 2022. As a result, the U.S. recovery will accelerate and further diverge from Europe, which will likely see flat to negative growth in the first quarter. China is also set to see strong growth in 2021. Earlier this month, Chinese Premier Li Keqiang announced the country would target growth of over 6 percent for 2021.
In this month’s economic outlook report from IPC, you will find U.S. and European data on economic growth, employment, Manufacturer’s Sentiment (PMI), manufacturing capacity utilization and end markets for electronics.