U.K.'s Pay Rise, Slower German Growth, Erdogan Comments: Eco Day

(Bloomberg) -- Good morning, Americas. Here’s news from Bloomberg Economics to help get your Tuesday started:

• Britons got their first real pay increase in more than a year in the first quarter as wage growth overtook the rate of inflation.
• Germany saw its pace of expansion cut in half in the first quarter, as growth slowed across Europe amid weaker trade
  • Still, the European Central Bank’s balance sheet could start shrinking even before the bond-buying program is over, according to Nordea
• Turkish President Recep Tayyip Erdogan told Bloomberg TV he intends to tighten his grip on the economy and take more responsibility for monetary policy if he wins an election next month
• U.S. companies and business groups are lining up to oppose the Trump administration’s plan to slap tariffs on Chinese imports, as the two nations step up efforts to resolve their trade dispute
  • One dissenting voice is Apple CEO Tim Cook, who said he criticized Donald Trump’s approach to trade with China in a recent White House meeting
• We’ve already talked about what $70/barrel oil means for the global economy. What about $100 oil?
• Meanwhile, here’s a look at what’s going to happen to Sweden’s fabled welfare state

To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net.

To contact the editors responsible for this story: Paul Gordon at pgordon6@bloomberg.net, Joanna Ossinger

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