According to Eurostat, in April, retail sales in the euro area fell by 0.4% compared to March, when there was a zero growth. Economists had expected zero growth in April as well. Food and non-food products were sold 0.4% less than in the previous month. Euro area sales slowed growth in annual terms to 1.5% from 2%, noting the slowest rate in the last 4 months. According to economists, they were expected to grow at the level of 2%. The statistical offices of the European Union also published a report on the dynamics of producer prices in the euro area in April. Producer price inflation was 2.6%, slowing from the March level of 2.9%. Economists, on the contrary, expected its acceleration to 3.1%. Producer prices, which do not take into account the cost of energy carriers, increased by 1.2% in annual terms, while in monthly terms they fell by 0.3%.
Financial markets saw record heights earlier on Friday, with the Euro continuing its 21-month gain streak and gold prices hitting its highest level amid a weakened Dollar. The Euro soared above the Dollar by 1.7%, trading at $1.1616 for the ...
Backed by record-low mortgage rates, U.S. home sales reached its strongest record in June. However, the outlook for the housing market remained murky as low inventory and high unemployment rate pressed amid the virus crisis. Existing home ...
Australian retail sales advanced 2.4% in June. This came as an upbeat figure following a 16.5% increase seen in May as the land down under resumed its economic operations from coronavirus-related lockdowns. The country’s retail sales ...
The Dollar fell on Tuesday, with the Euro and the British Pound Sterling gaining strength on the back of news that European Union leaders have agreed to roll out additional recovery funds in the region. New hopes for a potential COVID-19 vaccine ...
The euro reached its highest level since early March after the European Union agreed on a deal for a massive stimulus package to support the bloc’s economy from the coronavirus pandemic. The deal was finalized after a round of compromises ...