Both the Eurozone and the US Q2 growth rates came in better than expected. In addition, There remains a big difference between the level of the growth rates, with the US substantially outperforming (3% annual, with a 1.3% pace for the first half); The Eurozone’s 0.1% quarterly growth defied those who had anticipated a larger pullback after the 0.6% rate for Q1 powered by the front-loading of exports; and Germany, Europe’s largest economy, contracted by 0.1% #economy #markets #growth