Free Trial
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 DATA
MNI (London)
EUROZONE JUL RETAIL SALES +0.3% M/M (FCST +0.4% M/M); JUN -1.2% M/M
EUROZONE JUL RETAIL SALES -0.9% Y/Y (FCST -0.8%); JUN -3.7% Y/Y
- July Eurozone retail sales were softer than anticipated, seeing a minor +0.3% m/m improvement on June whilst contracting for the second consecutive month (albeit less severely) in the annualised print at -0.9% y/y (June saw -3.7% y/y).
- Non-food products accounted for the bulk of downwards pressure in July vs June, implying a slowdown in consumer spending as consumers grappled with inflation at 8.9% in July (9.1% in Aug).
- Retail sales volumes still remain above pre-pandemic levels. Euro area consumer confidence saw a small improvement from historic lows in August, however remains deeply pessimistic implying little improvement in spending.
- This morning the August services PMI was downgraded to 49.8 in the final print, which alongside a contractive manufacturing PMI suggests a contraction across the sector and a higher probability of a Q3 GDP contraction for the bloc.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok