U.K. Spending Push, Europe’s Stimulus Cliff, India Woes: Eco Day

(Bloomberg) -- Welcome to Thursday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• The U.K.’s Chancellor of the Exchequer is under pressure to ramp up spending to avoid lasting damage to the economy at the same time as Britain’s racial divide is raising questions about how to handle inequities in work, pay, and poverty
• Europe is approaching the edge of a disastrous economic cliff, with deadlines to cut off stimulus looming
• Poland’s 40% jump in the budget deficit last month doesn’t fully capture unprecedented Covid-relief spending, which is shifting beyond the auspices of government fiscal reporting
• India was hurt most in the International Monetary Fund’s latest growth forecast downgrades, and Prime Minister Narendra Modi is looking inward to rescue the economy
• A series of charts shows just how fast China’s economy is catching up to that of No. 1 U.S.; meanwhile, early indicators show China’s services and small firms are lifting the outlook
• Here’s what alternative data are telling us about the global economic recovery, and a separate Bloomberg Economics analysis shows how small is beautiful for EM central banks’ quantitative easing
• South Africa finds it’s too rich for relief even as a fiscal reckoning could be near

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