Eurozone Retail Sales arrive at 0% YoY in August vs. 0.4% expected
- Eurozone Retail Sales rose by 0.3% MoM in August vs. 0.8% expected.
- Retail Sales in the bloc stood at 0% YoY in August vs. 0.4% expected.
Eurozone’s Retail Sales rose by 0.3% MoM in August versus 0.8% expected and -2.6% last, the official figures released by Eurostat showed on Wednesday.
On an annualized basis, the bloc’s Retail Sales came in at 0% in August versus 3.1% recorded in July and 0.4% estimated.
FX implications
The euro comes under additional downside pressure on the downbeat Eurozone Retail Sales data.
At the time of writing, the major trades at 1.1551, fresh 2021 lows, down 0.37% 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, the 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.
