For August
Provided by: PR Newswire
Release: Press Release

Germany: 44.1, pr. 46.4, 44.9 (Jun), 56.6 (May), 44.6 (Apr)
France: 53.7, pr. 51.3, 48.7 (Jun), 59.6 (May), 46.2 (Apr)
Italy: 44.8, pr. 38.2, 36.3 (Jun), 38.8 (May), 31.4 (Apr)

From the Release: "The latest Bloomberg Euro-Zone Retail Purchasing Managers' Index ("PMI(R)"), based on a mid-month survey of economic conditions in the euro area retail sector, indicates a continuing contraction in euro-zone retail sales for the third consecutive month. While the PMI rose to a three-month high during August, at 47.7 it remains below the crucial 50.0 no-change mark.

The PMI, which provides data one month ahead of government-issued figures based on interviews with more than 1,000 retail executives in Germany, France and Italy, suggests that operating conditions remained tough for retailers at the height of the summer holiday period. August marked the sixth time in 2008 that sales have fallen. The latest contraction was largely attributed to continued caution amongst consumers with regard to discretionary spending, given the uncertain economic outlook and their reduced purchasing power at a time of continuing inflationary pressures."

For July
Provided by: PR Newswire
Release: Press Release

Germany: 46.4, pr. 44.9 (Jun), 56.6 (May), 44.6 (Apr)
France: 51.3, pr. 48.7 (Jun), 59.6 (May), 46.2 (Apr)
Italy: 38.2, pr. 36.3 (Jun), 38.8 (May), 31.4 (Apr)

From the Release: "The latest Bloomberg Eurozone Retail Purchasing Managers' Index ("PMI(R)"), based on a mid-month survey of economic conditions in the euro area retail sector, rose from 44.0 in June to 46.0 in July. By remaining below the 50.0 level, the index pointed to a further fall in sales during the month despite an easing in the rate of decline from the steep pace seen in June.

The PMI, which provides data one month ahead of government issued figures based on interviews with more than 1,000 retail executives in Germany, France and Italy, suggests that retail conditions remained difficult at the start of the third quarter. The PMI indicates sales falling at a pace broadly similar to the average recorded over the second quarter -- which had seen the steepest drop yet recorded for any quarter over the survey history. Retailers blamed the latest decline in sales on deteriorating consumer confidence, economic uncertainty and household finances being squeezed by rising energy costs."

For June
Provided by: PR Newswire
Official Release: Press Release

Germany: 44.9, pr. 56.6 (May), 44.6 (Apr)
France: 48.7, pr. 59.6 (May), 46.2 (Apr)
Italy: 36.3, pr. 38.8 (May), 31.4 (Apr)

A mid-month survey of economic conditions in the euro area retail sector, fell from 53.1 in May to 44.0 in June, marking the second-sharpest sales decline in the survey's four-and-a-half year record. Sales declined in all three of the largest euro countries Germany, France, and Italy. The food and drink sector saw notable sales increase, although it was linked to higher prices. Business optimism is deteriorating and retailers are cutting employment. Companies are also retraining their purchase of goods to a minimum due to the high costs. 

For May
Provided by: PR Newswire
Release: Press Release

Germany: 56.6, pr. 44.6
France: 59.6, forecast 49.5, pr. 46.2
Italy: 38.8. pr. 31.4

Retail sales activity rose above the 50 boom-bust level in Germany and France, though it remained in contraction in Italy (though the Italian PMI improved from 31.8 to 38.8). The increase was the first in 3 months and was picked up by sales of clothing and food. This is a welcome sign for the ECB which has held rates steady at 4% in order to combat inflation. Confidence among consumers and executives remains near 3 year lows, and the unemployment level increased in Germany. The 2nd quarter is proving to be more difficult for the Euro-zone as a whole as the high value of the Euro, higher inflation, tighter credit, and a global slowdown are all working to slow the European economy's momentum. This latest uptick in retail sales activity may prove to be short lived, as consumer confidence erodes. 

From the Release: "The latest Bloomberg Eurozone Retail Purchasing Managers' Index ("PMI(R)") indicates that European retail sales for May rose the most since April of last year and showed the first increase for three months. The Bloomberg Eurozone PMI, an indicator based on a mid-month survey of economic conditions in the euro area retail sector and providing data one month ahead of government issued figures, registered 53.1 in May, a solid recovery from April's survey low of 41.8. The improvement reflected higher sales of clothing & footwear, food & drink and household goods, commonly attributed to better weather compared to April and to the timing of Easter.

Despite the pick-up during May, sales have fallen over the first five months of the year on average, suggesting that business conditions in the Eurozone retail sector are generally subdued."