EURO: Eurozone Retail Sales YoY fall short at -0.7% in February
The Euro zone retail sales for the month of February came at -0.70% decline versus -1.3% expected and -0.90% decline in January month. Better than expected retail sales in the Euro zone economy moves Euro quite stronger against counter pairs.
EURUSD is moving in Descending channel and market has reached lower high area of the channel
According to the data published by Eurostat on Friday, the Eurozone witnessed a 0.7% year-over-year decline in Retail Sales for the month of February. This decrease follows a 0.9% drop recorded in January. The market had anticipated a steeper decline of 1.3%.
Additionally, Retail Sales within the Eurozone contracted by 0.5% on a month-over-month basis during the same period. This compares to the flat growth seen in January and falls short of the expected decrease of 0.4%.
EURO: Eurozone retail sales drop exceeds February expectations
The Euro zone retail sales for the month of February came at -0.70% decline versus -1.3% expected and -0.90% decline in January month. Better than expected retail sales in the Euro zone economy moves Euro quite stronger against counter pairs.
EURCHF is moving in Ascending channel and market has fallen from the higher high area of the channel
Retail sales in the eurozone saw a more significant decline than anticipated in February, as revealed by data released by Eurostat on Friday.
The volume of retail trade within the single-currency area dropped by 0.5% during the month, contrasting with January’s stagnation, which was revised down from a previously reported 0.1% increase. Market analysts had expected a lesser decline of 0.4%.
Compared to the same period last year, sales experienced a 0.7% decrease, following a revised 0.9% annual decline in January.
Eurostat’s report indicated that sales of food, drink, and tobacco decreased by 0.4% in February, while non-food products saw a 0.2% decline, and automotive fuel sales plummeted by 1.4%.
Across various member states, Germany, Belgium, and Cyprus recorded the most significant monthly declines in retail sales, with decreases of 1.9%, 1.8%, and 1.1%, respectively. Conversely, Poland, Croatia, and Estonia witnessed the strongest growth, with increases of 1.4%, 1.2%, and 1.0%, respectively.
EURO: Eurozone and EU retail sales dip in February
The Euro zone retail sales for the month of February came at -0.70% decline versus -1.3% expected and -0.90% decline in January month. Better than expected retail sales in the Euro zone economy moves Euro quite stronger against counter pairs.
In February, the volume of retail sales in the Eurozone experienced a decline of -0.5% compared to the previous month, which was worse than the anticipated -0.3%. This decrease in retail trade volume was evident across various sectors. Specifically, sales for food, drinks, and tobacco dropped by -0.4%, while non-food products (excluding automotive fuel) saw a decrease of -0.2%. Automotive fuel sales in specialized stores experienced the most significant decline, falling by -1.4%.
Similarly, retail sales volume in the European Union (EU) fell by -0.4% month-on-month. Looking at individual Member States, notable decreases in total retail trade volume were observed in Germany (-1.9%), Belgium (-1.8%), and Cyprus (-1.1%). Conversely, Poland (+1.4%), Croatia (+1.2%), and Estonia (+1.0%) registered the highest increases in retail sales volume among reporting countries.
EURO: Eurozone retail sales drop by 0.5%.
The Euro zone retail sales for the month of February came at -0.70% decline versus -1.3% expected and -0.90% decline in January month. Better than expected retail sales in the Euro zone economy moves Euro quite stronger against counter pairs.
EURUSD is moving in Descending channel and market has reached lower high area of the channel
In February, retail sales in the Eurozone experienced a downturn, primarily attributed to reduced demand for both food and non-food items, according to official data released on Friday by Eurostat.
The monthly figures revealed a 0.5 percent decline in retail sales volume for February, following a stagnant performance in the preceding month. This decline came in worse than economists’ expectations, who had anticipated a 0.4 percent drop.
Specifically, sales of food, drinks, and tobacco dipped by 0.4 percent, while non-food product sales (excluding automotive fuel) saw a 0.2 percent slide. Automotive fuel sales in specialized stores experienced a more pronounced decrease of 1.4 percent, reversing the slight 0.2 percent increase observed in January.
On an annual basis, the decline in retail sales volume moderated slightly to 0.7 percent in February from 0.9 percent in January. Analysts had forecasted a steeper decline of 1.3 percent.
Meanwhile, retail sales within the broader European Union (EU) also recorded a 0.4 percent monthly decline in February, with a 0.2 percent decrease observed annually.
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