Europe Haunted By Jobless Recovery

At least the PMIs beat -- is what the optimists can say on Friday, as global markets were in a tentative mood after China closed a US consulate. Gauges of private sector business activity in Europe bested expectations and broadly returned to growth, flash readings for July showed. At the European level, both the manufacturing and services gauges came in ahead of consensus, pushing the composite index to a big beat at 54.8. Although these are the first expansionary prints since February, the

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