U.S. Weakening, Business Rebound, Canada Visa Windfall: Eco Day

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

• The U.S. economic recovery is showing incipient signs of weakening in some states where coronavirus cases are mounting
• At the same time, amid the worst job market in decades and projections that the economy will contract by as much as 35% this quarter, entrepreneurs apparently missed the message of doom. New business formation has rebounded quickly in parts of the country
• Donald Trump’s latest move to restrict immigration to the U.S. might wind up being a windfall for Canada
• China appears set to eclipse the U.S. to become the world’s biggest economy within the decade as it powers out of its coronavirus slump
• The recovery trend for most major advanced economies continues, although none of them have yet to approach their pre-crisis levels of activity, according to a set of alternative, high-frequency data used by Bloomberg Economics
• Europe is approaching the edge of a disastrous economic cliff, with deadlines to cut off stimulus looming
• Protests under the Black Lives Matter movement are causing the U.K. to look at its past to help understand the economic disadvantage of the present
• The European Central Bank will rely on edited and non-public documents related to a previous legal judgment to push back against a German court ruling that threatens to derail one of its key bond-buying programs
• Finally, don’t miss this week’s episode of the Stephanomics podcast

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