Latest data released by Eurostat - 6 October 2021
- Prior -2.3%; revised to -2.6%
- Retail sales 0.0% vs +0.4% y/y expected
- Prior +3.1%
Euro area retail sales increased slightly with a rebound in online sales offsetting a drop in food, drinks, and tobacco, after the drop in July. The year-on-year reading is flat, but that owes to the initial reopening surge from a year ago.
Amid rising cost pressures, be on the look out for further moderation in consumption activity as we head towards Q4.
