For all the palpitations that the trade war between the U.S. and China will knock out their economies, it is Europe that increasingly looks like the biggest threat to global growth.
Industrial production across the 19-nation euro area is falling at the fastest pace since the financial crisis, and deteriorating demand is evident as the region finds itself squeezed between international and domestic drags. That leaves expansion at risk of barely topping 1 percent this year, a sharp slowdown from 2018, with even continental powerhouse Germany in trouble.
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