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 retail sales increases by a modest 0.3% in August, failing to stage a significant rebound from the downwardly-revised 2.6% fall (originally -2.3%) in July. Sales were unchanged in the year to August, down from an unrevised 3.1% y/y gain in July, and sharply below the dramatic gains recorded earlier in the year, although those improvements were measured against a very low 2020 base.
Food, drink and tobacco accounted for much of the August weakness, declining by 1.7% in August, while non-food sales rose by 1.8%. Online activity most likely kept sales growth in the black, rising by 9.0%, reversing a 10.4% plunge in July. Retail activity did pick up in Germany, rising by 1.1% after a 4.5% fall in July. French sales declined by 1.2%, extending a 2.3% fall in July while activity in Spain decreased by 0.4% after dropping 0.1% the previous month.
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.