EMU Retail Sales - YoY

Description

Retail sales capture changes in total receipts of retail stores across the economy. The figure is used to gauge consumer spending and the overall health of economy.
Latest Release: 03-12-2014 10:00:00
Next Release: 06-11-2013 10:00:00
Source:Eurostat
Sharp Jump In Eurozone Retail Sales
Oct 3rd, 2014 at 10:48 AM

One of the few bright spots in the struggling Eurozone economy appears to be the consumer sector according to the latest Retail Sales data just released by Eurostat. The August figures have produced a positive surprise in terms of the magnitude of the pick up in the sector. Year on year the data is showing 1.9% growth in Eurozone Retail Sales, this follows a revised July reading of just 0.5%, analysts had not been anticipating any change from this level. Month on month the retail trade growth is now registering at 1.2% in contrast to the July contraction of -0.4%, a pick up was expected here but only to approximately 0.1%.

Beyond the consumer sector the Eurozone growth recovery has unquestionably stalled, Purchasing Managers Index (PMI) data this week across the key sectors has shown general contraction in both Services and Marketing with some minor expansion in Construction. The spotlight is continuing to shine on the European Central Bank (ECB) as further monetary stimulus is desperately sought in the face of stagnation brought on by protracted fiscal austerity.

Yesterday’s ECB meeting was not expected to deliver anything on the Interest Rate side, there is little further capacity to do so, it was however closely watched for clarity on the Bank’s active and proposed liquidity expansion programs. There was no further indication of the timing of a...