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Eurozone August retail sales saw the worst decline almost two years, however the Euro shrugged off the bad news to move higher as it showed it's teflon qualities after ignoring the Catalonia referendum crisis in Spain.

Euro Area Retail Sales Aug 2017

 Eurozone August retail sales highlights

  • August sales -0.5% m/m compared to +0.3% expected, Prior -0.3% m/m
  • Worst decline since Oct 2015
  • Sales up 1.2% compared to 2.6% expected y/y, Prior y/y sales 2.6% (revised to 2.3%) terms

The Euro teflon effect has much ado with U.S. dollar skittishness ahead of Friday's U.S. jobs report.

Monthly comparison by retail sector and by Member State
The 0.5% decrease in the volume of retail trade in the euro area in August 2017, compared with July 2017, is due to falls of 0.9% for automotive fuel, of 0.4% for non-food products and of 0.3% for “Food, drinks and tobacco”. In the EU28, the stable volume of retail trade is due to decreases of 0.5% for automotive fuel and of 0.1% for “Food, drinks and tobacco”, while non-food products rose by 0.2%. Among Member States for which data are available, the largest decreases in the total retail trade volume were registered in Portugal (-1.3%), Austria (-1.0%) and Belgium (-0.9%), while the highest increases were observed in Romania (+2.3%), the United Kingdom (+1.9%) and Malta (+1.5%).

Annual comparison by retail sector and by Member State
The 1.2% increase in the volume of retail trade in the euro area in August 2017, compared with August 2016, is due to rises of 2.3% for non-food products and of 1.1% for “Food, drinks and tobacco”, while automotive fuel fell by 0.2%. In the EU28, the 2.0% increase in retail trade volume is due to rises of 3.3% for non-food products, of 1.2% for “Food, drinks and tobacco" and of 0.8% for automotive fuel.

Among Member States for which data are available, the highest increases in the total retail trade volume were registered in Romania (+15.8%), Slovenia (+7.5%), Malta (+6.9%), Slovakia (+6.8%) and Poland (+6.7%), while decreases were observed in Luxembourg (-25.6%) and Belgium (-2.4%).

From The TradersCommunity News Desk

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