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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
Eurozone volume of retail trade growth came in a touch below expectations at 0.1% M/M in July (vs 0.2% consensus) after a downward revised -0.4% M/M in June (-0.3% initially). On an annual basis, volumes of retail trade also disappointed at -0.1% Y/Y (vs 0.2% consensus, -0.4% prior ) - a second consecutive negative print.
- The soft reading was driven by a large fall in 'Automotive fuel' component which fell 1.0% M/M (vs -0.6% prior) - the largest fall since February 2024.
- This was followed by a marginal rise in Non-food products (ex-fuel) rising 0.1% M/M (vs -0.2% prior)
- Meanwhile, the 'Food, drinks, tobacco' component rose 0.4% M/M (following a fall of 0.7% in June).
- The larger eurozone members all saw monthly increases, at least for where data is available. France sales rose 0.1% M/M (vs -0.6% prior), Spain saw 0.5% (vs 0.4% prior) and the Netherlands bounced with 1.2% M/M (after a significant fall of 1.6% in June).
- Note: Italy and Germany data (which account for over 40% weighting for retail sales) for July is unavailable, Eurostat states "The publication of German data is delayed due to the changeover to new data requirements".
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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