J.P. Morgan Asset Management - The Weekly Brief

29.03.2021 11:58 - JPMorgan Asset Management (Switzerland) LLC

J.P. Morgan Asset Management - The Weekly Brief

Die vorläufigen Daten zum Einkaufsmanagerindex (EMI) für März wiesen starke Gesamtwerte für die USA, Grossbritannien und die Eurozone aus. Besonders bemerkenswert war der dienstleistungsbedingte Anstieg in Grossbritannien, während die Aktivität im Euroraum zunahm und jenseits des Atlantiks auf erhöhtem Niveau blieb. Die Geschäftserwartungen für die künftige Produktion sind durchweg sehr robust. Erfreulich ist auch die Beschäftigungskomponente, die derzeit für Fertigung und Dienstleistungen in allen drei Regionen über 50 Punkten liegt und auf eine mögliche Beschleunigung der Personalbeschaffung hinweist. Der Anstieg der Inputpreise – teilweise bedingt durch Engpässe in der Lieferkette – war etwas problematischer. Die Basiseffekte dürften die Inflation in den nächsten Monaten bereits in die Höhe treiben, und anhaltende Versorgungsengpässe könnten zusätzlichen Aufwärtsdruck verursachen. Die Zentralbanken haben zugesichert, vorübergehende Inflationsspitzen zu „ignorieren“, aber ihre Entschlossenheit wird wohl auf die Probe gestellt, wenn das Frühjahr näher rückt.

JPMAM_The Weekly Brief_29.03.2021.pdf

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