Shaky Global Recovery, U.S. Pay Hike, China Exports: Eco Day

Welcome to Monday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

  • The world’s economic rebound is shrouded in uncertainty with plenty that could wrong before 2020 is over
  • Peru’s star Finance Minister Maria Antonieta Alva, who steered a measures to cope with the coronavirus pandemic, is facing the biggest challenge of her career as a hearing in congress could sideline her
  • As the economy picks up, America’s warehouse and factory owners increasingly find they can’t fill jobs without boosting meager wages
  • President Donald Trump “couldn’t be more pleased” with how the recovery is progressing but wants more stimulus to move ahead, U.S. Treasury Secretary Steven Mnuchin said. Mnuchin spoke Sunday as an aide to Democratic presidential candidate Joe Biden warned of an unequal, “K-shaped” recovery leaving many Americans behind
  • The pace of Germany’s industrial recovery slowed in July, raising concerns over the long road recovery
  • Boris Johnson raised threats to leave the European Union without a trade deal as his government moved to tear up part of the divorce agreement it reached with the bloc only a year ago
  • China’s exports continue to defy expectations with strong demand for medical products and electronics as major trading partiners resume business
    • The headline reading on China’s exports for August likely overstates the recovery in external demand that may not be as smooth as the market expects, according Bloomberg Economics
  • Taiwan’s exports rose to a record in August, aided by suppliers rushing to ship as many components as possible to Huawei Technologies Co. before a U.S. ban on sales to the company comes into effect next week
  • Finally, here’s our preview of what to watch this week: ECB Finds Itself Stuck in Fed’s Policy Orbit: Eco Week Ahead

©2020 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.