Dying Austerity, Firefighting the Virus, China Output: Eco Day

(Bloomberg) -- Happy Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day and send you into the weekend:

  • Boris Johnson’s post-Brexit spending spree could end an era of austerity as the prime minister looks to retain support of the poorest areas of the U.K.
  • Turkey probably capped its comeback after a recession with a brief spurt worthy of Asia’s fastest growing economies
  • U.K. consumer confidence climbed to the highest since August 2018 as optimism about the economy boosted households’ willingness to buy big-ticket items
  • Former Reserve Bank of India chief Raghuram Rajan said in a Bloomberg TV interview that policy makers should fight the virus first and worry about stimulus later
  • Investors aren’t buying the idea that central banks’ wait-and-see approach to the coronavirus will last, ramping up bets on interest-rate cuts that could start within months
  • China is running at about 60%-70% of its normal level as factories re-open, Bloomberg Economics analysis shows.
  • More than 40% of manufacturers across a swath of America’s heartland reported negative effects from the coronavirus, a regional Federal Reserve bank survey showed; underlying demand in the U.S. economy was slower than initially reported at the end of last year, according to GDP figures
  • An adviser to Prime Minister Shinzo Abe said Japan should compile another economic package with fresh spending of at least 5 trillion yen ($45 billion) to combat virus impact; Japanese factory output was sluggish before the outbreak, data show
  • India’s fragile economic rebound faces a fresh threat from the virus’s spread
  • Explore some of our best economy reads from the week here

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