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Eurozone retail sales record stronger-than-expected rebound in June

Retail trade in the eurozone rebound more than expected on a monthly basis in June as textile, clothing and footwear sales recovered.

The monthly retail trade volume was up 1.1% in June after declining by a revised 0.6% in May, data from Eurostat showed. The consensus estimate of economists polled by Econoday was for an increase of 0.4% in June.

Monthly sales of food, drinks and tobacco rose 1.2% in June, having fallen 0.8% in May. In non-food products, sales of textile, clothing and footwear jumped 3.5% month over month in June after dropping 1.1% in May.

On an annual basis, retail trade volume grew 2.6% in June after 1.0% growth in the previous month.

In Italy, retail sales value increased by 1.9% month over month in June, according to estimates from Istat. The Econoday consensus estimate was for an increase of 0.4%.

The value of retail sales grew by 1.3% in June on an annual basis.

Separate data from the eurozone showed that industrial producer prices fell 0.6% on a monthly basis in June after a 0.1% slip in May. Energy prices shed 2.2% month over month in June, following a 0.6% decline a month ago.

Total industrial producer inflation decelerated to 0.7% in June from 1.6% in May on an annual basis.