Latest data released by Eurostat - 3 September 2020
- Prior +5.7%; revised to +5.3%
- Retail sales +0.4% vs +1.9% y/y expected
- Prior +1.3%
Despite the further easing of virus restrictions, retail sales activity surprisingly slumped in July and that may add further concerns - alongside waning PMI data in August - on the strength of the economic recovery in the region in Q3.
Looking at the details, clothing and shoes sales led the drop with a double-digit decline while food sales were flat on the month. Non-food sales fell by 2.9% in July.
