G-7 Meetings Start, U.S. Labor Letup, EU Trade Tension: Eco Day

(Bloomberg) -- Welcome to Thursday, Americas. Here’s news from Bloomberg Economics to help get your Thursday started:

  • Global finance chiefs and central bankers begin three days of meetings in Canada with a return to crisis-management mode as the Group of Seven grapples with the market shock waves from Italy’s political woes
  • It’s looking ever tougher for the U.S. to keep up the pace of payroll gains amid relatively slow growth in the labor force
  • The European Union is bracing for a trade offensive from U.S. President Donald Trump, amid a report the U.S. is poised to impose tariffs on steel and aluminum
  • The European Central Bank’s 20th anniversary arrives on Friday as another financial scare shows that the euro area still hasn’t grown up
    • Yet there’s some good news for ECB officials debating the future policy path as euro-area inflation hits the fastest pace in more than year
  • British consumers are feeling more upbeat about their spending prospects, though they’re still worried about the economic outlook, according to GfK
  • China’s official factory gauge rose more than estimated as export orders accelerated, signaling trade continues to drive expansion

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