Alas, today's economic news is dominated by the carpet bombing of Markit's PMIs.
Broadly they purport to find industry in Europe now expanding in July, Asia still contracting, and the US broadly stable. Treat this economic clickbait with scepticism.
Also be sceptical about the reported 0.7% mom fall in US construction spending in June - these numbers are regularly revised upwards, and the 1.4% fall in residential spending contradicts all other data from June's housing market.
