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EZ Retail Sales Drop in July

EUROZONE DATA
MNI (London)

EZ JUL RET SALES -1.3% M/M, +0.4% Y/Y; JUN +5.3% M/M


  • M/M retail sales declined in Aug for the first time since April, dropping 1.3% in July and falling short of markets looking for a gain of 1.4%.
  • Jun's sales have been revised down 0.4pp to +5.3% m/m, with the annual rate unrevised
  • Annual sales slowed to 0.4% in Aug after increasing 1.3% in the previous month.
  • While fuel sales rose 4.3% and food sales came in flat, non-food product sales slipped to -2.9% following a strong reading of 11.8% in Jun
  • All categories within non-food products fell in Aug and textiles, clothing and footwear saw the largest m/m contraction, dropping by 10.6%
  • Among the member states, the biggest m/m decline was recorded in Belgium (-5.1%), Finnland (-2.0%) and Estonia (-1.5%), while Portugal (+3.9%), Malta (+3.2%) and Slovakia (+2.0%) posted the largest gains.
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
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