China-U.S. Meeting Muddle, Inflation Wisdom, ECB Split: Eco Day

(Bloomberg) --

Welcome to Tuesday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:

• Chinese and U.S. officials are struggling to agree on the schedule for a planned meeting this month to continue trade talks after Washington rejected Beijing’s request to delay tariffs that took effect over the weekend
  • Bloomberg Economics lowers its projections for China’s annual GDP growth, following the implementation of additional U.S. tariffs
• Goldman Sachs Group Inc. economists are questioning the conventional wisdom that the global economy is suffering from a bout of slowing inflation
• Bank of England Governor Mark Carney is running out of opportunities to warn lawmakers just how much a no-deal Brexit will harm the economy. He’s due to appear before the Treasury Committee Wednesday
  • U.K. retail suffered another lethargic month in August with sales on everything but food declining
  • The contraction in the U.K. construction industry gathered pace in August as increased political uncertainty saw new orders fall at fastest pace in more than ten years
• Bank of France Governor Francois Villeroy de Galhau, monetary chief for the euro zone’s second-largest economy, has yet to say whether he thinks the bloc needs a major package including an interest-rate cut and the restart of quantitative easing
• The pieces are falling into place for Turkey’s central bank to follow its record interest-rate cut with more monetary easing as inflation heads for lows not seen since last year’s currency crash
• South Africa averted a second recession in as many years after economic growth rebounded in the second quarter, led by recovery in mining industry and growth in finance

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