China Hits Back, Gloomy Outlook, Mexico Rate Decision: Eco Day

(Bloomberg) --

Good morning Americas. Here’s the latest news and analysis from Bloomberg Economics to help get your Thursday started:

• China called planned U.S. tariffs on an additional $300 billion in Chinese goods a violation of accords reached by Presidents Donald Trump and Xi Jinping, signaling its intention to impose retaliatory measures
• The latest signs on global growth are not encouraging, and a look at the calendar flags the risk of worse to come, writes Tom Orlik. Meantime, in China, key gauges show growth is still far from bottoming out, writes Chang Shu
• Mexico’s central bank is the closest to cutting interest rates since it last did so five years ago. The question economists are now asking isn’t if, but when, and timing is key
• Germany Inc.’s outlook for the rest of the year is filled with gloom, suggesting a recession could be in the cards
  • Meanwhile, Berenberg, Germany’s oldest bank, has given up hope that U.S.-China trade tensions will subside any time soon -- with severe consequences for export-reliant nations
• The world’s largest asset manager says European authorities should consider funneling money straight to households and businesses if the current economic slowdown worsens
• Sky-high youth unemployment in nations such as Italy, Spain and Greece has been cited by populists as evidence that established parties are failing younger generations. A closer look at the data suggests the situation isn’t quite as horrific
• The pressure on Britain’s store owners was highlighted starkly in new figures showing almost one fifth of all shopping last month was done online
• Hong Kong’s massive protests raise ominous questions about 2047, and are slamming the island’s economy

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, Lucy Meakin

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