- Prior -0.2%; revised to -0.3%
Euro area retail sales dropped a little compared to the month before but the yearly estimate still reaffirms a steadier showing. The volume of retail trade was 1.2% higher in March this year relative to the same month last year. As for the monthly estimate, here’s the breakdown:
Overall, it doesn’t really hint at much. Retail sales activity in the first quarter of the year feels relatively muted, declining in all three months.
That doesn’t make for a good backdrop heading into Q2 amid fears of higher price pressures and increased economic uncertainty set to weigh on household sentiment.
So, expect that to keep overall retail sales in a less optimistic spot as the US-Iran conflict drags on for a bit longer still.
