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Baker Tilly economic snapshot – March 2021 edition

Once the storm of the U.S. Presidential election settled, President Biden pushed through an ambitious $1.9 trillion economic stimulus plan. It was enshrined into law on March 10. China might get an unusual boost this month as the annual migration of workers that normally occurs during the Lunar New Year celebrations was largely curtailed by very strict COVID-19-related travel restrictions. Usually, there are many factory shutdowns as a consequence of this, but that was not the case this year. The EU came under increasing criticism for poor vaccine distribution and countries started to do their own deals outside the centralised European agreement in order to get vaccines to their people. Italy got a new Prime Minister in the form of “super” Mario Draghi and Boris Johnson outlined a “return to freedom” roadmap.

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