Eurozone periphery plays catch-up as core struggles for momentum

The Eurozone periphery plays catch-up as core struggles for momentum. Eurozone showed resilience in the face of Greece's crisis. The region's PMI held close to June's four-year high, despite the Greek PMI showing a record downturn as bank closures hit the economy. 

The region as a whole looks to be on course for GDP to have risen 0.4% in Q2, sustaining this pace at the start of Q3. Spain and Ireland are the star performers, with France back close to stagnation and Germany growing only modestly.