BREAKING: EU Retail Sales In Line with Expectations

Key takeaways

EU Retail Sales in Line with Forecasts
Minor Revision to Previous Reading

Key takeaways

EU Retail Sales in Line with Forecasts
Minor Revision to Previous Reading

Key Data:

Retail sales for August (m/m): 0.1% (forecast 0.1%; previous -0.4%)
Retail sales for August (y/y): 1% (previous 2.1%)

In August, retail sales in the European Union increased by 0.1% month-on-month, seasonally adjusted, in line with economists' expectations. This is an improvement compared to July, when sales declined by 0.4%. On a year-on-year basis, retail sales grew by 1%, indicating a slowdown in consumption growth across EU countries compared to August of the previous year.

Following the release of the data, the euro weakened against the dollar, reflecting the market’s negative reaction to the consumption outlook in the Eurozone.

Source: xStation5

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