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Retail Sales (Jul 2019) Preview -.....>

EUROZONE DATA
MNI (London)
EUROZONE DATA: Retail Sales (Jul 2019) Preview - 10:00 BST
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-- Bloomberg Consensus: -0.6% m/m, 2.0% y/y; Prev (Jun): +1.1% m/m, 2.6% y/y.
-- Markets look for retail sales to decline in July after June's rebound to
1.1%.
-- EZ retail sales posted monthly gains throughout 2019, except for May where
they fell by 0.6%. 
-- Available national data reveals a mixed picture, retail sales in Germany
slumped by 2.2%, hitting a 7-month. low in Jul, while French retail sales rose
by 0.7% m/m and Spanish sales grew by 0.2%.
-- EZ unemployment remains at the lowest level since July 2008, however survey
evidence paints a downbeat picture, with the EZ's manuf PMI indicating that
employment fell for the fourth consecutive month in Aug, while the Ifo
employment barometer shows a sharp fall in the service sector.
-- With less firms reporting labour shortages, wage growth looks set to cool and
as such, the outlook for consumer spending remains lacklustre.
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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