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3 Jul 2015
Eurozone retail sales might see 0.4%MoM decline – Danske
FXStreet (Barcelona) - Christin Tuxen, Senior Analyst at Danske Bank, sees downside risks to Eurozone retail sales data to be released ahead in the day, forecasting a 0.4%MoM decline.
Key Quotes
“In terms of data, euro-area retail sales figures for May will give more information about how consumers have reacted to the higher oil price. Overall, we expect slower growth in private consumption in Q2 compared with Q1, when the very low oil price was a significant tailwind. On the other hand, higher employment growth will continue to support consumer spending. We expect a decline in retail sales of 0.4% m/m after it rose 0.7% m/m in April.”
Key Quotes
“In terms of data, euro-area retail sales figures for May will give more information about how consumers have reacted to the higher oil price. Overall, we expect slower growth in private consumption in Q2 compared with Q1, when the very low oil price was a significant tailwind. On the other hand, higher employment growth will continue to support consumer spending. We expect a decline in retail sales of 0.4% m/m after it rose 0.7% m/m in April.”