U.K. GDP, ECB Chief Economist, China's Holiday Spending: Eco Day

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

  • In the U.K., industrial production and gross domestic product data will provide a picture of the state of Britain’s economy as Brexit looms
    • Here’s Bloomberg Economics’ preview for the data
    • Businesses probably cut investment in the U.K. for a fourth straight quarter at the end of 2018, depressing economic growth
    • There’s almost a one-in-three chance of a U.K. recession in the next 12 months, according to a Bloomberg survey of economists
  • Euro-zone finance ministers debate Philip Lane’s appointment as ECB chief economist
  • Turkey has found that fighting words alone aren’t enough to deter the people it blames for runaway food inflation. President Recep Tayyip Erdogan’s AK Party is now backing up threats with deeds
  • The IMF stands ready to support Pakistan as it tries to tide over a balance-of-payments crisis, Managing Director Christine Lagarde said after meeting the South Asian nation’s prime minister in Dubai
  • Spain is embarking on a major economic experiment: A 22 percent jump in the minimum wage that’s ignited a high-stakes debate about how it will impact the economy
  • Slow boat to Brexit oblivion: With shipping times to Asia as long as six weeks, British companies are preparing to send goods without knowing exactly what will happen to them
  • The downward pressure on China’s consumption persisted over the Lunar New Year holiday, the annual festival when people travel, shop, and give gifts or money.
  • Trade talks between the U.S. and China begin in Beijing, with lower-level officials meeting from Monday, and United States Trade Representative Robert Lighthizer and Secretary of the Treasury Steven Mnuchin meeting on Feb. 14-15 with Chinese negotiators.

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