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

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.