To what extent are Americans spending their $1,400 (£1,006.05) cheques from the government? We’ll get clues in next week’s official retail sales numbers. With spending also bouncing back after being depressed by February’s storms, we could see a very sharp rise indeed.
This won’t be the only encouraging news. Industrial production should also post a bounceback after February’s fall. And the New York and Philadelphia Feds’ surveys of manufacturers should show both strong growth and high optimism for coming months.
All this will be consistent with economists’ expectations for strong growth this year: the OECD, for example, expects real GDP to rise by 6.5 per cent, its biggest increase since 1984.