(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.

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

• Even as delta risks loom, early signs from the third quarter show global growth accelerating and inflation peaking after its recent jump, a reassuring sign for policy makers and investors
  • In Asia, though, real-time indicators are already showing a hit as consumers stay home and airplanes idle on the tarmac
• U.S. consumer prices probably jumped again in July, with little sign that households are balking at paying more for goods and services
• The Senate passed a $550 billion infrastructure plan that represents the biggest burst of spending on U.S. public works in decades
• Bitcoin is staging a comeback that has taken it up more than 50% from recent lows, reviving animal spirits and coaxing out sky-high price targets that emerge when the asset is rallying
• Germany will expand Covid-19 testing requirements for non-vaccinated people and end free tests to prod more residents to roll up their sleeves
• Singapore’s economy is set to expand at a faster clip than the government previously expected as the city-state shakes off an uptick in virus cases and looks to re-open more sectors
• South Korea’s unemployment rate fell to the lowest level in one year in July before a surge in virus infections triggered tighter restrictions nationwide
• Indian companies are running out of room to absorb rising raw material costs, which could force the central bank to unwind stimulus faster than expected

©2021 Bloomberg L.P.