Eurozone June retail sales -1.2% vs 0.0% m/m expected

• Prior +0.2%; revised to +0.4%
• Retail sales -3.7% vs -1.7% y/y expected
• Prior +0.2%; revised to +0.4%

Euro area retail sales slumped by more than expected in June with the details showing that the volume of retail trade decreased by 2.6% for non-food products, by 1.1% for automotive fuels and by 0.4% for food, drinks and tobacco. The only bright spot is that the numbers here are likely captured by the Q2 GDP report last week here, which surprised on the higher side overall. But this continues to underscore weakening consumer demand conditions, as is the case from leading indicators in July.

/EUR EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term