... edged up in July (to 88.6 points from 88.4 in June), although this remains below forecasts. This modest increase in business sentiment suggests that the largest economy in Europe is avoiding a deeper recession for now, although companies continue to exercise caution. In the UK, moderate retail sales data emerged: in June, sales volume increased by about 0.9% m/m after a decline in May, raising hopes for the resilience of consumer spending despite high inflation. At the same time, the GfK consumer ...