Bankinter | Retail sales in the Eurozone in August were lower than expected: up 1.0% year-on-year compared to the expected 1.3% and the previous 2.1% (revised from 2.2%). Noteworthy is the decline in France (which recorded a drop of 1.4% against a 1.2% gain previously) and Germany (up 1.8% against 2.9% previously).
Analysis team’s view: Despite the weakness of the data, EMU retail sales have fluctuated within a stable year-on-year growth range of between 1% and 3% over the last 12-18 months. The trend is therefore positive and demonstrates the effect on consumption of the current context of low interest rates and controlled inflation.
