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Euro area retail sales fall in June, adding to activity slump
June retail volumes dropped across both food and non-food categories, with food down 0.5% m/m and non-food down 0.4% m/m.
Euro area retail sales disappointed in June, with data showing a monthly contraction that fell below expectations, according to Forexlive. Retail sales were down 0.3% month over month versus a forecast for a 0.1% increase.
The decline reflected weaker volumes across multiple categories. The volume of retail trade for food, drinks, and tobacco fell 0.5% m/m, while non-food retail trade dropped 0.4% m/m.
Some items offset part of the weakness, however. Retail trade for automotive fuel in specialised stores rose 1.5% m/m.
Forexlive noted the report aligns with similar-looking retail data from Germany and said the figures are not expected to materially change the ECB outlook because they are a lagging indicator at this stage.