Eurozone Retail Sales Miss Forecast, Raising Questions Over Consumer Demand and ECB Rate Path - VT Markets

Eurozone retail sales rose 0.8% year on year in August, missing the 1% consensus forecast. The data point to slower momentum in consumer spending as the bloc moves through the late summer period. The miss against expectations may feed into near-term assessments of demand conditions and the outlook for growth. Markets will weigh the softer retail reading alongside other incoming indicators when gauging the path of monetary policy. We should closely monitor the Euro (EUR) in the coming weeks, as the disappointing 0.8% year-on-year retail sales growth for August highlights persistent weakness in consumer spending.