China's Economy Slows, ECB Liftoff, U.K. Budget Boost: Eco Day

(Bloomberg) -- Good morning Americas. Here’s the latest news and analysis from Bloomberg Economics to help round off your week:

• China’s economy slowed more than expected in the third quarter as domestic and international risks weighed on growth.
  • Meanwhile, the country’s top financial officials moved to shore up confidence in the tumbling stock market, marshaling a rare show of coordinated verbal intervention as the government tries to prevent a $3 trillion equity rout from infecting the world’s second-largest economy
• The European Central Bank will end its negative interest-rate policy in January 2020 after first lifting interest rates later next year, according to a Bloomberg survey.
• U.K. Chancellor of the Exchequer Philip Hammond got a pre-budget boost Friday, as a report showed he remains on course to significantly undershoot his borrowing forecasts this year, giving him leeway to relax his grip on spending.
• Here’s why President Donald Trump is stopping the booming U.S. economy from helping Republicans trying to hold on to seats in Congress.
• A Federal Reserve Bank of New York gauge puts the chances of a U.S. downturn at 14.5 percent a year from now, far more optimistic than a JPMorgan Chase & Co. model
  • Meanwhile, here’s a theory that has some U.S. politicians thinking big
• Finally, catch up on this week’s events with our guide to what’s happened in the world economy in the past five days, and why it matters.

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, Marco Bertacche

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