MNI BRIEF: Fed's Williams Says There's No Urgency To Cut Rates

MNI: US March Existing Home Sales Fell 4.3% To 4.19M

WILLIAMS: NOT BASE CASE TO RAISE RATES FURTHER

MNI BRIEF: Beijing Opposes U.S. Measures Against Chinese Steel

MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

EZ/UK Bond Supply Calendar: EU, UK Synd W/C 22 Apr, BoE APF Mon

US EIA:NAT GAS STORAGE +50 BCF TO 2,333 BCF APR 12 WK

MNI: US NAR: MAR EXISTING HOME SALES 4.19M SAAR

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: M/M slightly lower than exp; Y/Y beats expectations

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

Eurozone volume of retail trade was marginally below consensus at +0.1% M/M in January (vs +0.2% M/M consensus, -0.6% M/M revised prior). On an annual basis, retail trade volume continued to decline, albeit a smaller decline than expected at -1.0% Y/Y (vs -1.3% Y/Y consensus, -0.5% Y/Y revised prior).

  • Both 'Food, drinks, tobacco' and fuel contributed gains M/M, with the former seeing the first M/M rise since September 2023 at +1.0% M/M, whilst 'Automotive fuel ' trade volume printed it's fifth consecutive M/M increase at +1.7% M/M, making volume of trade for the category on an annual basis positive for the first time since March 2023.
  • Meanwhile, 'Non-food products (ex automotive fuel)' saw a further slight decrease of -0.2% M/M, following the -0.9%M/M print in December. On a Y/Y basis, January's print of -1.4%Y/Y was the steepest reduction since September 2023.
  • Of the major eurozone members Germany saw a -0.4% M/M fall while France saw an increase of +1.2%M/M and the Netherlands increase +0.3%M/M. French and Italian data is still to be publicly released.
172 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 marginally below consensus at +0.1% M/M in January (vs +0.2% M/M consensus, -0.6% M/M revised prior). On an annual basis, retail trade volume continued to decline, albeit a smaller decline than expected at -1.0% Y/Y (vs -1.3% Y/Y consensus, -0.5% Y/Y revised prior).

  • Both 'Food, drinks, tobacco' and fuel contributed gains M/M, with the former seeing the first M/M rise since September 2023 at +1.0% M/M, whilst 'Automotive fuel ' trade volume printed it's fifth consecutive M/M increase at +1.7% M/M, making volume of trade for the category on an annual basis positive for the first time since March 2023.
  • Meanwhile, 'Non-food products (ex automotive fuel)' saw a further slight decrease of -0.2% M/M, following the -0.9%M/M print in December. On a Y/Y basis, January's print of -1.4%Y/Y was the steepest reduction since September 2023.
  • Of the major eurozone members Germany saw a -0.4% M/M fall while France saw an increase of +1.2%M/M and the Netherlands increase +0.3%M/M. French and Italian data is still to be publicly released.