Eurozone Retail Sales Slump as Tariff Woes Weigh
Retail sales growth in the euro zone decelerated in July, according to Eurostat data. The 0.5% monthly drop surpassed expectations, raising concerns about domestic consumption's ability to counteract U.S. tariff impacts on economic growth. Annual sales growth also fell short of economist projections, sparking sustainability debates.
- Country:
- Germany
Retail sales growth in the euro zone decelerated in July, prompting concerns about the ability of domestic consumption to counterbalance the adverse impacts of U.S. tariffs on economic growth, according to data released by Eurostat on Thursday.
Sales among the 20 nations using the euro fell by 0.5% month-on-month, missing expectations for a 0.2% decline. This performance underwhelmed compared to the 2.2% annual rise, which was slightly below the 2.4% growth forecasted in a Reuters economists' poll.
The euro zone experienced unexpectedly robust growth during the first half of the year, bolstered by increased household consumption. Economists are now questioning whether this momentum can be maintained amid the pressures of tariffs and global economic instability.
(With inputs from agencies.)
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