The Eurozone economy expanded 0.4% QoQ in the second quarter, beating expectations of 0.2% and recovering from the previous 0.2% contraction. On an annual basis, Gross Domestic Product increased 1.0%, well above the 0.5% market forecast and the previous 0.3% expansion. Germany’s economy expanded 0.2% QoQ, above the 0.1% forecast, while annual growth accelerated to 0.9% from 0.4%. France returned to growth with a 0.2% QoQ expansion, Italy grew 0.2% QoQ and Spain outperformed the region with a 0.7% QoQ increase, exceeding expectations of 0.6%. The Core Personal Consumption Expenditures (PCE) Price Index rose only 0.1% MoM in June, below expectations of 0.2% and May’s 0.3% increase.