Registration of automobiles in April 2021 has shown moderation compared to March. The tractor segment continues its robust pace. The Purchasing managers’ index (PMI) for manufacturing continued in expansion mode at 55.5 in April 2021 compared to 55.4 in the preceding month. Overall, the high frequency indicators are emitting mixed signals.
Fiscal union would make it possible to implement policies consistent with the cyclical conditions in the various member states and in the euro area as a whole, promptly and with no doubts as to their legitimacy. The single currency needs to interact with a single fiscal policy.