Eurozone Retail Sales drop 0.9% YoY in July vs. -0.7% expected
- Eurozone Retail Sales stood at 0.3% MoM in July vs. 0.4% expected.
- Retail Sales in the bloc arrived at -0.9% YoY in July vs. -0.7% expected.
Eurozone’s Retail Sales rose by 0.3% MoM in July versus 0.4% expected and -1.0% last, the official figures released by Eurostat showed on Monday.
On an annualized basis, the bloc’s Retail Sales came in at -0.9% in July versus -3.2% recorded in June and -0.7% estimated.
FX implications
The euro is defending 0.9900 on the downbeat Eurozone data. At the time of writing, the major is trading at 0.9907, down 0.43% on the day.
About Eurozone Retail Sales
The Retail Sales released by Eurostat are a measure of changes in sales of the Eurozone retail sector. It shows the performance of the retail sector in the short term. Percent changes reflect the rate of changes of such sales. The changes are widely followed as an indicator of consumer spending. Usually, positive economic growth anticipates "Bullish" for the EUR, while a low reading is seen as negative, or bearish, for the EUR.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
