The Dow Jones Industrial Average (DJIA) has gained about 2% this year, the biggest one-day gain in nearly seven years.
The index has been buoyed by a broad recovery in the U.S. economy, which has recovered much of the damage inflicted by the financial crisis and the Great Recession, but also by the economic recovery in China, which is expected to add a bit more than 1.3% to GDP this year.
But a more worrisome trend is the continued decline in U.K. consumer confidence.
The country’s manufacturing sector has been hit hard by the Brexit vote and its vote to leave the European Union, and its economy is projected to contract 2.5% this season.
In other words, the country has not had a good year, at least for most of the year.
The U.k. economy grew 0.3%, while the U,S.
and China are projected to add about 0.6%.
The U.N. World Food Program estimates that nearly 3.4 million people in the United States, the U., Canada and Mexico will be out of food this year due to a lack of fresh water.