What should investors be looking for in European growth data?

Growth in the eurozone is slowing to stall-speed. The most recent raft of indicators point to weak manufacturing activity, with German data at lows last seen in 2009.

While global growth has been weak, Europe has been particularly vulnerable. Fiscal easing is a challenge in the eurozone and there are limits as to what the European Central Bank (ECB) can do to loosen policy further. It was back in 2016 that it was recognised that driving interest rates into negative territory may well be counterproductive, and as the 10-year bund yield turned negative last month, there has been a significant shift in policy thinking this year, which has resulted in an implicit loosening of financial conditions. Should investors care about European equities? Th...