Gold Ten Data News on September 5th, the shopper spending in the euro zone in July only increased slightly because the driving force of actual income growth was lower than expected. Retail sales in July rose by 0.1%, lower than the market's expected 0.3%. The data shows that spending on food and other goods increased that month, but fuel sales declined. The downturn in the retail industry indicates that despite rising wages and falling inflation, eurozone consumers still lack confidence in consumption. The sentiment of eurozone households reached its highest level since the escalation of the Russian-Ukrainian conflict in early 2022 in July, but it declined in August, which has raised the call for the European Central Bank to cut interest rates for the second time in September.
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La falta de confianza del consumidor obstaculiza las débiles ventas minoristas en la zona euro en julio
Gold Ten Data News on September 5th, the shopper spending in the euro zone in July only increased slightly because the driving force of actual income growth was lower than expected. Retail sales in July rose by 0.1%, lower than the market's expected 0.3%. The data shows that spending on food and other goods increased that month, but fuel sales declined. The downturn in the retail industry indicates that despite rising wages and falling inflation, eurozone consumers still lack confidence in consumption. The sentiment of eurozone households reached its highest level since the escalation of the Russian-Ukrainian conflict in early 2022 in July, but it declined in August, which has raised the call for the European Central Bank to cut interest rates for the second time in September.