Eurozone Retail Sales Fall 0.3% in June, Missing Estimates

Eurozone retail sales dropped 0.3% in June from the previous month, according to data released yesterday, disappointing markets that had looked for a 0.1% gain. The decline marked a sharp reversal from the previous month's modest growth.

On a year-over-year basis, sales rose just 0.7%, the slowest pace in nearly two years, signaling that consumer spending remains under pressure despite broader economic resilience.

The weak print adds to concerns about the euro area's growth momentum and may reinforce expectations for further European Central Bank rate cuts later this year. The euro edged lower against the dollar in response to the data.