Eurozone March retail sales -0.1% vs -0.3% m/m expected
Prior -0.2%; revised to -0.3% Euro area retail sales dropped a little compared to the month before but the yearly estimate still reaffirms a steadier showing. The volume of retail trade was 1.2% higher in March this year relative to the same month last year. As for the monthly estimate, here's the breakdown: Overall, it doesn't really hint at much. Retail sales activity in the first quarter of the year feels relatively muted, declining in all three months. That doesn't make for a good backdrop h
The slightly better-than-expected retail sales figure may provide temporary support for the euro, but the overall muted activity suggests limited upward momentum. Prices may experience slight fluctuations but are likely to remain under pressure due to the broader economic context.
Prior -0.2%; revised to -0.3% Euro area retail sales dropped a little compared to the month before but the yearly estimate still reaffirms a steadier showing. The volume of retail trade was 1.2% higher in March this year relative to the same month last year. As for the monthly estimate, here's the breakdown: Overall, it doesn't really hint at much. Retail sales activity in the first quarter of the year feels relatively muted, declining in all three months. That doesn't make for a good backdrop heading into Q2 amid fears of higher price pressures and increased economic uncertainty set to weigh on household sentiment. So, expect that to keep overall retail sales in a less optimistic spot as the US-Iran conflict drags on for a bit longer still. This article was written by Justin Low at investinglive.com.
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