U.K. Loses Steam, U.S. Jobs Report, Italy Revamp: Eco Day

Welcome to Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day and send you into the weekend:

  • The U.K.’s main growth engine, services, islagging behind in the pandemic recovery, suggesting the government may have to step up aid to prevent an economic collapse in the months ahead
  • European aid money will help lift Italy’s economy out of achronic underperformance if it’s targeted properly, according to the country’s minister in charge of industrial policy
  • The last U.S. jobs report before the presidential election is set to show a slowing economic recovery; hotel jobs are seencoming back in a handful of large American metro areas
  • Japan’s jobless rate hasedged up to a three-year high. Shut out of the employment market in their 20s, Japan’slost generation continues to search for direction in middle age — often jobless and still living with parents
  • The global shipping industry sustained asecond cyber attack within a week, further straining supply chains trying to move goods heading into peak season
  • Argentinaslashed taxes on its huge global soy exports as it tried to boost dollar inflows while the central bank’s reserves have plunged to an almost-four-year low
  • After holding the benchmark interest rate this week, the Philippine central bank governor said there’s stillroom to ease even as he thinks the worst is over for the economy

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