Global export activity fell 0.9% year over year in July, CPB World Monitor data shows, marking a second month of decline. A recovery in exports in Japan helped matters, though exports from the U.S. and EU continued to fall. The outlook is darker. Panjiva’s analysis of macroeconomic data show 10 out of 15 countries have reported lower exports in dollar terms in August with an average 2.8% year over year decline. Business sentiment in Europe also remains weak. Indeed, the IFO export order sentiment index for Germany shows a net 5.2% of managers see orders falling – the worst result since J...