China’s Rebound, Vexed Central Banks, U.K. Inequality: Eco Day

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Welcome to Monday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the week.

  • China’s economy recovered to pre-pandemic growth rates in the fourth quarter, propelling it to a stronger than expected full-year expansion of 2.3% and making it the only major one to avoid contraction
    • Still, Bloomberg Economics cautions that challenges at the start of 2021 could put a damper on China’s growth
  • Goldman Sachs economists raised their growth forecasts for the U.S. this year and beyond after Biden unveiled a sweeping revival plan
    • Meantime, a top economic adviser to President-elect Joe Biden warned the U.S. economy is “spiraling downward” and called for swift action
  • Resurgent coronavirus outbreaks will vex central bankers on five continents this week as they weigh the threat of more damage to growth against a hope that mass vaccinations will reopen economies
  • Surging house prices in the U.K. are making it more difficult for younger generations to follow the most common path for accumulating wealth, widening a gap between the rich and the poor
    • British home prices fell in January as sellers tried to speed up transactions with discounts before a temporary reduction in a hefty tax on home-buying ends -- although many deals will miss the deadline anyway, according to Rightmove
    • Job openings in London’s finance industry almost halved in 2020 as the uncertainties of coronavirus and Brexit discouraged hiring
  • Finally, here’s what to be on the lookout for in the EMEA economies this week

©2021 Bloomberg L.P.

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