The following are the headlines discussed at Aldwin Callen's Monday morning briefing:
- A key barometer of US manufacturing activity increased to 61.7, the highest level since October 2009, with order backlogs increasing at the fastest rate in 14 years.
- The Biden admin lowered its infrastructure spending proposal to $1.7 trillion (down from $2.25 trillion) but that is still roughly triple what Congressional Republicans want to spend.
- Eurozone manufacturing and services activity expanded at a faster rate in May, hitting a three-year high, as Covid-19 vaccinations ramp up and businesses re-open.
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