11:00 - Industrial Production, Seasonally Adjusted, Month to Month for August:
- Published: -1.2% (Expected: -1.6%, Previous 0.5%)
11:00 - Retail Sales, Seasonally Adjusted, Month to Month for August:
- Published 1,1% (Expected: -0.2%, Previous 2%)
Today's data from Europe brought a moderately positive surprise. Retail sales increased by 1.1%, while the market consensus expected a decline of 0.2%.
This result indicates relatively good consumer health, although it still marks a clear slowdown compared to the previous reading of 2.0%. Therefore, we can talk about a deteriorating situation, but at a slower pace than analysts expected.
At the same time, industrial production data was published, which also turned out better than forecasts – a decline of 1.2% compared to the expected -1.6%.
Nevertheless, this is a clear deterioration compared to the previous growth of 0.5%, confirming that the industrial sector remains under significant pressure.
Overall, the data suggests that the condition of the European economy is gradually worsening, with business, especially industry, performing significantly worse than consumers.
Since these are final data for August, their impact on the markets should be limited and not constitute a significant price-driving factor.
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