Eurozone retail PMI’s for June 2018 – Germany better, France and Italy in contraction

June 2018 Eurozone retail PMI’s 5 July 2018

Eurozone 51.8 vs 51.7 prior
Germany 57.1 vs 55.5 prior
France 48.1 vs 50.7 prior
Italy 48.5 vs 47.3 prior

May’s readin showed a decent jump in sales but that wasn’t reflected in the headline number earlier this week. Sales came out flat vs 0.1% exp m/m, and followed a -0.1% drop in April. So, although the correlation didn’t work this time, it’s still a decent look at the sector and it’s pointing to softness outside of Germany.