Europe’s economy is slowing down

Europe’s economy is slowing down:

Year-on-year, Eurozone GDP growth was 1.1%, slowing from 1.2% in the January-March period.

Softening global demand and uncertainty about the outlook dampen economic activity.

The jobs market was a bright spot in Wednesday’s economic data releases.

The Eurozone’s jobless rate slipped by 0.1 percentage point in June from May to 7.5%, the lowest level since July 2008.