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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

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