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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.
GERMAN DATA
MNI (London)
GERMANY JUN SA RETAIL SALES -1.6% M/M, -8.8% Y/Y
- German retail trade contracted by -1.6% m/m and -8.8% y/y in June. The year-on-year plunge was again weaker than expectations and the largest recorded since the series began in 1994.
- Food sales fell by -1.6% m/m in June and by -7.2% y/y, and the +11.9% y/y food price inflation remains largely to blame.
- Following Friday's GDP data which saw the German economy stall in Q2.
- The continued effects of supply chain disruptions, concerns regarding the Ukraine war and global inflationary pressures have generated a substantial slowdown for the German economy.
- This data confirms concerns are spilling over into retail demand, with consumer confidence currently sitting at a historic low, underlining the ECB's dilemma as soaring inflation and a sharply slowing economy impinge on policymaking.
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.
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