US economy sees ‘spectacular acceleration’; UK retail sales surge; China crackdown weighs on bitcoin – as it happened | Business

Right, time to wrap up. Here’s a quick recap.

Companies on both sides of the Atlantic have reported a surge in activity this month as lockdowns are eased.

In the US, the ‘flash’ composite PMI hit a record high, driven by a strong recovery in the services sector and continued rapid growth at factories. But price pressures are also at a record level.

It was a similar tale in the UK, where the PMI hit a fresh peak and business confidence reached a record.

Eurozone firms reported their fastest growth in three years, as vaccination programmes spurred demand.

The EC reported that eurozone consumer confidence has risen again.

Despite these signs of recovery, ECB president Christine Lagarde insists its too early to consider slowing its bond-buying stimulus.

European markets rallied, while the US dollar has also picked up this afternoon. US tech shares weakened, with investors favouring manufacturers, banks, oil companies and retailers.

US home sales dipped last month, as a shortage of properties hit the sector.

Bitcoin has been rocked by another warning from…