Europe’s Growth Engine Stutters as Spain Beats Germany

Germany probably underperformed Spain last quarter for the first time in more than five years as the euro-area recovery almost ground to a halt.

After leading the currency bloc out of its longest-ever recession last year, Europe’s largest economy shrank in the three months through June, according to a Bloomberg News survey before data this week. The downturn in the region’s powerhouse highlights the fragility of a revival that European Central Bank President Mario Draghi has described as modest and uneven.