U.S. Recession Risk, Draghi Primed, China Trade Hit: Eco Day

(Bloomberg) --

Good morning Americas. Here’s the latest news and analysis from Bloomberg Economics to help get your week started:

• For all the debate on whether the U.S. is headed for a recession there’s plenty of evidence that corners of the economy may already have tumbled into one
  • Meanwhile, the big question hanging over the U.S. economy is increasingly this: How much longer can consumers carry the day while businesses bear the brunt of a global slowdown and the trade war?
• Mario Draghi will test the composure of global policy makers this week as he unleashes a barrage of stimulus to shore up economic growth
• The U.K. economy grew at its fastest pace in six months in July, an unexpectedly strong performance that will allay fears Britain is facing a possible pre-Brexit recession.
• The contraction in China’s trade in August underscored what economists were already saying about the government’s stimulus efforts: they’re not yet enough to put a floor under the slowing economy
  • Meantime, here’s a recap of what China has, and hasn’t done to address U.S. trade
• And a reminder that Federal Reserve Chairman Jerome Powell pushed back against perceptions that the U.S. was tilting into a recession, while leaving the door open to further interest-rate cuts to keep the country’s record economic expansion on track
• Finally, here’s our rundown of the week’s key economic events

To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net

To contact the editors responsible for this story: Paul Gordon at pgordon6@bloomberg.net, Fergal O'Brien

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