German Surplus, British Productivity, More Tariffs: Eco Day

(Bloomberg) -- Good morning, Europe. Here’s the latest news from Bloomberg Economics:

  • Germany’s trade surplus is likely to stay large no matter how hard Donald Trump tries to make it disappear
  • Progress stalled. Britain’s productivity performance is the worst in three centuries, with no end in sight. Meanwhile, Britain’s first female chief economic adviser in the Treasury – and the government’s most senior economist – has a lot on her plate.
  • Eye for an eye. China confirmed it will impose 25 percent tariffs on an additional $16 billion of U.S. imports from Aug. 23, matching an earlier move from Washington
  • Also on China, factory inflation held up in July even as commodity prices eased, and consumer prices gained slightly more than expected. Bloomberg Economics expects a cooling economy to contain inflationary pressures overall
  • Hike? What’s that? In New Zealand, the central bank said it expects to keep interest rates at a record low for another two years as the outlook for economic growth weakens

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