April brings growth momentum to US economy despite inflation concerns.

The US economy has regained growth momentum in April, with S&P Global's preliminary reading on activity across the US economy reaching an 11-month high and the survey's reading on activity in the services sector hitting a 12-month high. The latest reading is indicative of GDP growing at an annualized rate of just over 2%. The report challenges the narrative of an imminent downturn in the US economy, but disagreements in incoming data continue to prove a challenge. The Federal Reserve is expected to raise interest rates by another 0.25% at its latest policy meeting, which is less than two weeks away.