The role of finance minister is usually that of the killjoy, so Christine Lagarde can be forgiven for jumping the gun when she finally had good news to impart. French radio listeners were taken aback by their finance minister’s announcement (before the official release) that the economy grew from April to June.

Across the Rhine, Germany awoke to equally glad tidings: it recorded 0.3 per cent growth in the second quarter, the same as in France. The news took everyone by surprise: economists had forecast contractions in both countries. Even Ms Lagarde, sounding like a victim of mild statistical whiplash, was slightly incredulous.