Latest data released by Eurostat - 4 July 2019
- Prior -0.4%; revised to -0.1%
- Retail sales +1.3% vs +1.6% y/y expected
- Prior +1.5%; revised to +1.8%
Another downtick in consumption activity and that doesn't reign in much optimism surrounding the euro area economy in the second quarter. The only positive news is that the weaker reading in April was adjusted slightly upwards but that's really a mere consolation.
The data here won't have much impact on the euro at the moment but will feed into overall Q2 GDP data in the bigger picture. EUR/USD holds steady at 1.1280 currently, still trapped in a narrow range on the day.
