Back
5 Aug 2014
EMU’s Retail Sales and Services PMIs, the most relevant today – Danske Bank
FXStreet (Edinburgh) - Kasper Kirkegaard, Chief Analyst at Danske Bank, remarks the most salient events in today’s docket in the euro area.
Key Quotes
“Euro retail sales are expected to have increased 0.5% m/m in June”.
“Consumer confidence, which is a good leading indicator for retail sales, has lost a bit of momentum but it is still at a high level (above the peak in 2010-11)”.
“Furthermore, German retail sales for June were strong, with an increase of 1.3% m/m”.
“European service PMIs are due for release and the first release in Spain and Italy will be most interesting. Both are at high levels but we see room for further progress, reflecting stronger domestic demand especially in Spain”.
Key Quotes
“Euro retail sales are expected to have increased 0.5% m/m in June”.
“Consumer confidence, which is a good leading indicator for retail sales, has lost a bit of momentum but it is still at a high level (above the peak in 2010-11)”.
“Furthermore, German retail sales for June were strong, with an increase of 1.3% m/m”.
“European service PMIs are due for release and the first release in Spain and Italy will be most interesting. Both are at high levels but we see room for further progress, reflecting stronger domestic demand especially in Spain”.