Results coming in from around in Europe:
France and Germany both up 0.3% GDP in the period April to June.
UK nowhere. The Bank of England warned on Wednesday that UK recovery was likely to be “slow and protracted”. The Bank’s quarterly inflation report underlined that interest rates are set to stay low for a longer period than expected by the market and that its £175bn programme of cash injections into the economy was unlikely to be unwound any time soon.
“The world economy remains in a deep recession,” said Mervyn King, governor of the Bank.
Yeah, go and tell that to the Germans. They like the occasional bit of schadenfreude.