The United States GDP expand to 6.4 percent in the first quarter of 2021 compared to a year ago - Photo by the White House Office

JAKARTA (TheInsiderStories) – Good Morning! The United States (US) economic growth expand to 6.4 percent in the first quarter of 2021 annual rate. The gross domestic product grew by 1.6 per cent in the first three months of 2021, compared with 1.1 per cent in the final quarter of last year.

The bureau of economic analysis reported the personal consumption expenditures increased by a robust 10.7 percent annual rate, while business investment in equipment and intellectual property products continued to grow steadily.

While, President Joe Biden in his first speech at the Congress, pitch his US$1.8 trillion “American Families Plan” on Thursday. This is the second half of his effort to revitalize the nation and ensure a more equitable recovery. He plans to fund the package by nearly doubling the capital gains tax for Americans making over $1 million per year.

In Asia, China’ industrial profits expanded by 137 percent in the first quarter of 2021, down by 41.6 percentage points from the first two months of the year as the low-base effect diminished. For March alone, industrial profits increased by 92.3 percent in annual basis.

Then, Japan’ retail sales rose by 1.2 percent on monthly basis and 5.2 percent in annual basis in March. The factory activity expanded in April at the fastest pace since early 2018 on a global demand recovery. The final Manufacturing Purchasing Managers’ Index rose to a seasonally adjusted 53.6 in April, up from a flash reading of 53.3 and the previous month’ final of 52.7.

From India, the COVID-19 cases surpassing 18 million on Thursday and there have been so many deaths that bodies are being cremated in makeshift centers in parking lots and parks. At least 379,257 new infections and 3,645 new deaths were reported.

Then, South Korean President Moon Jae-in will visit the White House on May 21 for talks with Biden. The White House says, President Biden looks forward to working with President Moon to further strengthen their alliance and expand their close cooperation.

In the South China Sea, US and China face an increasingly real risk of conflict. Chinese warships alerted US warships to surveillance of the Liaoning carrier task force as the Chinese aircraft carrier held drills near the island of Taiwan and in the South China Sea recently.

In Europe, the increasing US military presence in the Euro-Arctic region is considered a threat to regional security. The recent US efforts to build military bases in Norway are clearly the first step to invade the region. As reported, on April 16, the both counties signed the military cooperation as an effort to increase Norway’ contribution to NATO.

Yesterday, IndonesianRupiah closed up 0.34 percent to 14,450 per US Dollar and the Jakarta Composite Index (JCI) increased 0.64 percent to 6,012.96 compared to the previous day. The analysts assessed that short-term increases are still wide open, supported by several corporate actions by listed companies and commodity prices.

For today, the local currency is expected to move in the range of 14,400 – 14,500 against the Greenback and the JCI between 5,827 – 6,088. Stocks that can be watched today are PT Bank Central Asia Tbk (IDX: BBCA), PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Astra International Tbk (IDX: ASII) , PT Telkom Indonesia Tbk (IDX: TLKM), PT Vale Indonesia Tbk (IDX: INCO), PT Aneka Tambang Tbk (IDX: ANTM), and PT Adaro Energy Tbk (IDX: ADRO).

May you have a profitable Day!

Written by Linda Silaen and Editorial Team, Please Read Our News to Get More information about Indonesia