In Europe, No Green Shoots
Euro-area growth data for the second quarter was predictably underwhelming.
There were no "green shoots" to speak of and the latest read on the bloc's struggling economy ostensibly bolsters the case for more easing from the ECB.
On the whole, the euro-area grew an anemic 0.2% in Q2, half the 0.4% from the first quarter. The YoY rate is now just 1.1%, the most sluggish in half a decade.
Political uncertainty in Spain is starting to weigh in the bloc's fourth largest economy, which had been a