ECB executive board member Moulin said June growth was weak and lacked momentum, and he does not expect a marked pick-up in Q2 growth.

White House National Economic Council director Hassett said employment data are consistent with strong economic conditions.

On July 3, South Korea’s deputy prime minister and finance minister said the government will push major firms to invest over 312 tln won (~$204bn) in the southeast (Yeongnam) region to develop advanced manufacturing and AI. SK Group, Samsung, Hanwha and Hyundai Motor plan roughly 140 tln, 60 tln, 55 tln and 42 tln won respectively, targeting semiconductors, AI and aerospace; LG and Doosan are also expected to follow. The announcement includes a national space strategy centred on Sacheon to build a southern coastal space industry belt.