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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EUROZONE DATA
MNI (London)
EUROZONE JUN RETAIL TRADE -1.2% M/M, -3.7% Y/Y (FCST -1.7% Y/Y); MAY +0.4%r Y/Y
- The June data saw Eurozone retail trade weaker than anticipated, contracting by -1.2% m/m and by -3.7% y/y. The year-on-year print is a substantial 2.0pp below forecast and a 4.1pp slide from the soft May expansion.
- The largest June year-on-year contractions were recorded by Denmark (-9.5%), Germany and Ireland (-8.8%) and the Netherlands (-6.1%).
- This mirrors slowing consumer demand across the bloc, as PMIs flagged falling new orders. Inflation surged further to +8.9% y/y in July, which will likely see retail continue to suffer into the tail end of Summer as consumer confidence slips to record lows.
- With CPI not yet showing signs of easing, the ECB appears to have sights set on prioritising front-loading policy normalisation to restore consumer confidence sooner rather than later.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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