New data Retail Sales YoY (Oct)
11/29/2024
actual 3.5, previous 4.1
On November 29, 2024, at 08:00 GMT, Spain released its Retail Sales Year-over-Year (YoY) data for the month of October. The actual YoY growth rate was 3.5%, which was lower than the market consensus estimate of 3.7%. This figure also showed a decrease from the previous period's growth rate of 4.1%.The impact of this event on the market was considered high, as it provides insights into the consumer spending trends in Spain. A lower-than-expected retail sales growth rate could indicate weakening consumer confidence and potential economic challenges. In this case, the actual figure of 3.5% was 14.63% lower than the previous period, signaling a slowdown in retail sales growth in Spain.
Traders and investors closely monitor retail sales data as it is a key indicator of economic health and consumer sentiment. A strong retail sales report is generally seen as positive for the economy and the currency, while a weaker-than-expected report can lead to market volatility and impact the value of the Euro (EUR) in this case.
This is not investment advice. Remember to verify the information provided here.
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