The Retail Sales y/y indicator shows a change in the euro area retail sales for the given month compared to the same month of the previous year. The calculation is inflationary adjusted through the use of a special deflator. The indicator is also seasonally adjusted (for example, to exclude the effect of Christmas sales or the summer tourist season).
Retail turnover reflects the sum of all invoices issued by registered statistical units for the reported period. All payments including packaging and transportation costs are included. The calculation takes into account prices with all applicable discounts and bonuses, i.e. the actual amount received by the seller, not nominal prices from the catalog. VAT and similar taxes, rent costs, income from personnel (for example, contributions or donations), sales of company's own real estate and capital goods, interest payments and similar expenses are excluded.
Retail Sales change is considered to be one of the key indicators of consumer spending and consumer activity. The latter ones affect the level of inflation in the eurozone. Higher consumer spending leads to a higher inflation and a more active economy growth. Thus, an increase in retail sales in the eurozone can be seen as favorable for the euro quotes.
The chart of the entire available history of the "European Union Retail Sales y/y" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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