U.K Trade Deal, German Industry, Japanese Spending: Eco Day

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

• The U.K.’s trade deal with the European Union isn’t the only massive project that British negotiators must contend with before they quit the bloc at the end of the year
• German industrial production rose less than analysts expected in May, underscoring the challenge faced by Europe’s economy as it emerges from months-long coronavirus lockdowns
• Italy plans to dramatically expand public investment, focusing on boosting growth rather than reining in debt as the government plots its way out of the worst recession in a century.
• The U.K. will pump 3 billion pounds ($3.75 billion) into environmental projects as part of its plans to protect jobs in the wake of the coronavirus pandemic
• Australia’s central bank chief highlighted worries among households and businesses about the economic outlook, as the nation’s successful run of Covid-19 containment was rocked by a new outbreak, damping the economy’s otherwise improving prospects
• Lebanon’s economic crisis is fast slipping out of control, driven by a currency collapse that’s decimating businesses and plunging families into destitution.
• Japanese household spending fell by a fresh record in May, even as businesses began to reopen and more people ventured out after a nationwide state of emergency was lifted
• Economic activity in parts of the the U.S. is showing signs of leveling off amid a resurgence in coronavirus cases, according to Federal Reserve Bank of Atlanta President Raphael Bostic.

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