Eurozone: Weak economic numbers – BBH

Analysts at BBH note that the July composite Eurozone PMI fell to 55.7, the lowest the level since January, marking its second consecutive decline.  

Key Quotes

“The Q2 average was 56.6.  The region's economic momentum appears to have peaked.  This week's industrial production reports will support this hypothesis, but with the initial look at Q2 GDP recently reported, June data may not have the heft to move the market.  Spain has already reported a decline, and output in France also likely fall.  German industrial output has been very strong this year but appears poised to slow.”