Global Economy’s ‘Great Sag,’ Fiscal Lethargy, Brexit: Eco Day

(Bloomberg) -- Welcome to Friday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:

• Billionaire hedge-fund founder Ray Dalio says the global economy is in a “great sag” marked by political extremes that recall the 1930s
• Governments are failing to heed the pleas of their central bankers for more spending to support a slowing world economy
• The German government cut its 2020 growth forecast as Europe’s biggest economy expects the pinch from waning global demand, Brexit and lingering trade disputes to carry over into next year
• After his brief moment of glory in Brussels, Boris Johnson is flying back to London to face a hard political reality: he still needs to sell his Brexit deal to Parliament
• Australia’s jobless rate edged lower in September as the economy added full-time roles, sending the currency higher and potentially giving the Reserve Bank some breathing space in its easing cycle.
• A tightening labor market with U.S. unemployment at a 50-year low is starting to result in higher wages for full-time workers, including younger people and minorities whose pay has lagged
• And Canada’s economy has been a bright spot in the dimming global economy -- but perhaps not for much longer

To contact the reporter on this story: Matthew Brockett in Wellington at mbrockett1@bloomberg.net

To contact the editors responsible for this story: Matthew Brockett at mbrockett1@bloomberg.net, Tracy Withers

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