MNI: EUROZONE DATA: Retail Sales (Jun 2019)..........>

MNI: EUROZONE DATA: Retail Sales (Jun 2019) Preview - 10:00 BST

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- Bloomberg Consensus: 0.3% m/m, 1.3% y/y; Previous (May): -0.3% m/m, 1.3% y/y

- The market looks for retail sales to post a small m/m rebound in Jun, after

they declined by 0.1% in Apr & 0.3% in May

- This would leave sales up by 0.1% q/q in Q2, a marked slowdown from the 0.7%

q/q expansion seen in Q1 - and a further sign of cracks emerging in the

until-now resilient domestic economy

- Available national data reveals a mixed picture...

- ... retail sales in Germany surged at the fastest m/m pace (+3.5%) in more

than 12 yrs - but earlier declines meant that sales were up just 0.1% q/q in Q2

- ... while in France, retail sales slumped by 2.2% m/m in Jun 

- Although EZ unemployment fell to its lowest rate in Jun since mid-2008,

surveys suggest that businesses are hiring at a slower pace

- And with less firms reporting labour shortages, wage growth looks set to cool 

- As such, the outlook for consumer spending remains lacklustre