ECB Governing Council member Moulin said falling oil prices will ease the impact on the services sector.

European media reported on July 2 that the European Commission is expected to unveil in September a proposal to ban minors from using social media across the EU. Commission President Ursula von der Leyen is slated to announce the recommendation in her State of the Union address on September 16; member states have been briefed. A child online safety advisory group will deliver a report on September 13 to inform the Commission. The proposed age threshold and enforcement details remain unclear; member states are debating options ranging from an outright ban for under‑age groups to requiring parental consent.

Vietnam imports rose 45.2% YoY in June, up from 33.8% previously.