Germany's Q2 GDP growth was revised up to 0.3% quarter-on-quarter, and the ifo sentiment index hit a one-year high of 88.8. That strips the ECB of its best argument for pausing, with eurozone inflation still running at 3.2%.
Holger Zschäpitz flags an unbalanced German recovery: the revised 0.3% Q2 gain was almost entirely export-led, while fixed investment remains 7% below 2019 levels even as government consumption has climbed 15%. Source
