Wednesday March 4, 2015 Search
Weather | Athens
20o C
11o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Eurozone retail sales slow sharply in July, add to growth worries

Eurozone retail sales slowed as expected in July, data showed on Wednesday, adding to worries about eurozone economic growth, which ground to a halt in the second quarter.

The European Union's Statistics Office, Eurostat, said that the volume of retail sales in the 18 countries sharing the euro fell 0.4 percent month-on-month in July and rose 0.8 percent year-on-year. Economists polled by Reuters had forecast a 0.4 percent monthly fall and a 0.9 percent annual rise.

Eurostat also lowered its estimate for retail sales growth in June to 0.3 percent month-on-month from the 0.4 percent reported previously and to 1.9 percent year-on-year from 2.4 percent previously.

July's 0.4 percent drop in eurozone retail sales volumes fuels concern that recently weakening consumer confidence across the eurozone is starting to lead to increased caution in spending, thereby harming growth prospects, said Howard Archer, an economist at IHS Global Insight.

The decline in July was mainly caused by falling sales of food, drinks and tobacco. Sales slowed even though inflation had reached just 0.4 percent year-on-year in July and slowed to 0.3 percent in August.

The European Central Bank wants to keep price growth below but close to 2 percent and is trying to keep inflation expectations from falling too low, to ward off deflation.

The ECB meets on monetary policy on Thursday. Executive board member Benoit Coeure said in an essay published in Greek newspaper Ta Nea on Saturday that the bank was ready to adjust policy further if needed. [Reuters]

ekathimerini.com , Wednesday September 3, 2014 (12:56)  
Bourse benchmark and turnover head south
Germany says third Greek aid package not on Eurogroup agenda
Success of Greek reforms rest on implementation, says Lagarde
De Guindos insistent that Greece likely to need another aid program [Update]
Tsipras and Samaras meet for first time since elections
Prime Minister Alexis Tsipras and his predecessor Antonis Samaras met for the first time on Wednesday since SYRIZAs large win over New Democracy in the January 25 general election. Both men...
PPC hits back at criticism over workers pay hikes
The former head of the union of Public Power Corporation workers (GENOP), Nikos Fotopoulos, on Wednesday lashed out at criticism following a decision by PPC and GENOP on a new collective lab...
Inside News
SOCCER
Super League restarts, but behind closed doors
Deputy Minister for Sports Stavros Kontonis announced on Wednesday the resumption of the Super League this weekend after it was suspended last week following crowd trouble at the Athens derb...
SOCCER
Marinakis fines Olympiakos players
Olympiakos president Evangelos Marinakis on Monday fined the team 500,000 euros for disappointing performances and called on them to make a sacrifice to win trophies or leave. "Olympiakos ...
Inside Sports
FOCUS
Greek officials have ruffled feathers in Brussels for not having good diplomatic manners
Strapped for cash and under pressure to deliver on reforms, Greece's new radical government has ruffled feathers in Brussels by not respecting the diplomatic niceties of the negotiating tabl...
COMMENTARY
Up the creek without a paddle
One of the issues that dominated the countrys pre-election debate was whether SYRIZA, which eventually won the vote, had worked out a plan B. It was clear from the start that its much-hyped...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Tsipras and Samaras meet for first time since elections
2. PPC hits back at criticism over workers pay hikes
3. Probe launched following delays in arresting pedophile
4. Suspects in Conspiracy breakout case released
5. Workers protest withdrawal of Hellas Gold processing plant license
6. Thieves posed as PPC workers to rob pensioner in Fokida
more news
Today
This Week
1. Up the creek without a paddle
2. Greek officials have ruffled feathers in Brussels for not having good diplomatic manners
3. Panousis says no official decision on undocumented migrants
4. More Germans booking holidays in Greece, tourism chief says
5. For Greece, a lesson from Ireland, Kenny says
6. ECB glimpse of Cyprus debt shows limits of bank cleanup
Today
This Week
1. Greece to make international protest over Turkey reserving Aegean air space
2. A fierce battle looms
3. SYRIZA feeling the pain
4. The Greek tax drama
5. The unlikely winners of Greece's surrender on euro
6. Tsipras reversal draws Greek sympathy as party rumblings rise
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2015, H KAΘHMEPINH All Rights Reserved.