British Jobs, ECB Messaging Problem, Asia Manufacturing: Eco Day

(Bloomberg) -- Welcome to Monday, Europe. Here's the latest news and analysis from Bloomberg Economics to help take you start the week.

• There's one message from the British government that's been clear as the coronavirus rages again: the labor market is about to go through a shock not seen in a generation
• The European Central Bank is struggling to make its intentions clear to investors at a critical juncture in its response to the coronavirus recession
• The stage is set for a showdown on Brexit at a European Union summit next week
• Spain is paying a hefty price for its broken political system and is rapidly becoming the euro's problem child
• Australia's central bank is expected to keep its powder dry for another month as it clears the airwaves and commentary pages for the government's anti-recession fiscal program in Tuesday's budget
• Bloomberg Economics expects Asia's economies to continue recovering though it's unclear what pace can be kept up
• The global economy is entering the final quarter of its worst year in living memory in a precarious state with the coronavirus threatening to wreak yet more destruction on labor markets
• Brazil's President Jair Bolsonaro, who rose to power by painting himself a fiscal hawk, is suddenly pushing to ramp up social spending, leaving markets startled and budget experts confounded
• The non-oil private sectors in the Arab world's three largest economies returned to growth in September, with Egypt seeing its first expansion in 14 months

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