U.S. Deadline, Migration Halt, Stimulus Exit: Eco Day

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

• The fate of additional stimulus for the U.S. economy before next month’s election will be decided this week, with House Speaker Nancy Pelosi setting a Tuesday deadline to reach an agreement with the White House -- though it remains doubtful that the Republican-controlled Senate will accept any deal they strike
• The Federal Reserve and other central banks will eventually discover that breaking up isn’t easy after partnering with their governments and the financial markets to avert a pandemic-driven depression
• After rapid acceleration in the 1950s and 1960s, productivity has slowed and while Covid-19 is reshaping economies now, technological change will determine the path of growth in the coming decades. In Bloomberg Economics’ baseline case, global productivity is forecast to grow by about 0.8% a year between 2020 and 2030 -- a slight acceleration compared with the last decade
• International migration plummeted to an unprecedented degree during the Covid crisis, the OECD said, raising concerns over the longer-term outlook for a key driver of the global economy
• China’s recovery from the coronavirus pandemic continued in the third quarter and showed signs of broadening in September as consumer spending accelerated, keeping the economy on track to be the world’s only major growth engine this year
• Justin Trudeau’s Covid-19 support programs gave Canada one of the world’s largest budget deficits, and now the prime minister is ready to test public appetite for more red ink

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