MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EZ Retail Trade broadly in-line with expectations

EUROZONE DATA
DataHomepagemarkets-real-timeData BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

Eurozone volume of retail trade was down -1.1% M/M in December (vs -1.0% M/M consensus, +0.3% M/M revised prior) - the largest fall since December 2022. The upward revision to the November data saw the Y/Y print come in line with expectations at -0.8% Y/Y (vs -0.85 Y/Y consensus, -0.4% Y/Y revised prior).

  • All subcomponents saw a fall in volume of retail trade M/M, with 'Automotive fuel in specialised stores' volume of retail trade decreasing for the first time since August 2023 at -0.5% M/M, taking the Y/Y value for the component to -6.2% Y/Y in December 2023 (vs -3.3% Y/Y prior).
  • Mail orders and internet were down -3.7%M/M in December after a -0.1%M/M fall in November, pointing to some potential seasonality issues around Black Friday sales.
  • We will be looking more into the details of the data across the final two months of the year later.
  • Most of the major eurozone members saw M/M falls in retail trade: Belgium saw one of the largest M/M declines (-2.0% M/M), followed by the Netherlands (-1.7% M/M), Germany (-1.6% M/M), and Spain (-1.4% M/M).

180 words

To read the full story

Close

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 volume of retail trade was down -1.1% M/M in December (vs -1.0% M/M consensus, +0.3% M/M revised prior) - the largest fall since December 2022. The upward revision to the November data saw the Y/Y print come in line with expectations at -0.8% Y/Y (vs -0.85 Y/Y consensus, -0.4% Y/Y revised prior).

  • All subcomponents saw a fall in volume of retail trade M/M, with 'Automotive fuel in specialised stores' volume of retail trade decreasing for the first time since August 2023 at -0.5% M/M, taking the Y/Y value for the component to -6.2% Y/Y in December 2023 (vs -3.3% Y/Y prior).
  • Mail orders and internet were down -3.7%M/M in December after a -0.1%M/M fall in November, pointing to some potential seasonality issues around Black Friday sales.
  • We will be looking more into the details of the data across the final two months of the year later.
  • Most of the major eurozone members saw M/M falls in retail trade: Belgium saw one of the largest M/M declines (-2.0% M/M), followed by the Netherlands (-1.7% M/M), Germany (-1.6% M/M), and Spain (-1.4% M/M).