According to Jinshi Data, retail sales in the eurozone rose by 0.1% in July, lower than the market expectation of 0.3%. The data showed that spending on food and other goods increased during the month, but fuel sales fell.
Eurozone consumers remain unsure about spending despite rising wages and falling inflation. Sentiment among eurozone households fell in August after reaching its highest level in July before the escalation of the Russia-Ukraine conflict in early 2022.
This has heightened calls for the ECB to cut interest rates for the second time in September.
