Monday Jan 26, 2015 Search
Weather | Athens
15o C
9o 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)  
Greek bond yields soar on SYRIZAs choice of govt partner
Nordbank eyes bad shipping debt deals
European markets shake off SYRIZA win in Greece
IMFs Lagarde rules out special treatment for Greece
Greek F-16 crash in southeastern Spain kills 10
A Greek fighter jet crashed into parked aircraft during a NATO training exercise on Monday in southeastern Spain, killing at least 10 people and injuring another 13, Spanish defense authorit...
PASOK heading for party congress, leadership contest
PASOK is due to hold a party congress in March, when the leadership of the party will also be at stake, after a poor showing in the elections. Sources said that PASOK leader and outgoing Dep...
Inside News
SOCCER
Olympiakos overcomes depleted OFI at Iraklio
Easy though it may seem, Olympiakoss 3-0 win at depleted OFI Crete was rather difficult on Saturday, but was enough to keep the Reds on top on Saturday, as they have maintained their two-po...
BASKETBALL
Tremendous Spanoulis sweeps Laboral Kutxa
A hot second half was enough for Olympiakos to undo visiting Laboral Kutxa and score its fourth win in as many games at the second round of the Euroleague on Friday. The 76-64 final score wa...
Inside Sports
COMMENTARY
SYRIZAs win will test institutions
Greece was at an impasse, with a government that did not believe in what it was doing and an opposition that declared with passionate intensity that whatever the government did was wrong and...
COMMENTARY
The challenge for Tsipras and others
A few years ago, an associate of mine who had met with Alexis Tsipras when the young politician was running for Athens mayor told me how impressed he had been by his confidence. Tsipras was ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Greek bond yields soar on SYRIZAs choice of govt partner
2. Nordbank eyes bad shipping debt deals
3. Greek F-16 crash in southeastern Spain kills 10
4. PASOK heading for party congress, leadership contest
5. Former PM Constantinos Mitsotakis recovering after heart surgery
6. Police publish name, photograph of suspected child molester
more news
Today
This Week
1. SYRIZA heads for historic victory but without majority
2. Greek Elections 2015: The day after | LIVE
3. SYRIZA's win will test institutions
4. Tsipras forges anti-austerity coalition in challenge to EU
5. Finnish PM says ready to discuss bailout extension for Greece
6. Tsipras moves to form anti-austerity government after crushing victory
Today
This Week
1. Greek Elections 2015 | LIVE
2. Grexit the only way out of valley of tears, says Hans-Werner Sinn
3. Greek Elections 2015 | LIVE
4. SYRIZA heads for historic victory but without majority
5. No debt writedown or rolling back of reforms for Greece, says Finland's Stubb
6. Greeks fork out nearly 5 pct of their incomes on telecom services
Advertiser Link
SMART WATER Project: Outputs and conclusions of the final conference
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2015, H KAΘHMEPINH All Rights Reserved.