- Prior +0.2%; revised to +0.1%
- Retail sales +1.3% vs +1.6% y/y expected
- Prior +2.3%; revised to +2.4%
That's a slightly more disappointing end to the year for euro area retail sales activity. But overall in 2025, the annual average level of retail trade volume is seen increasing by 2.3% compared with 2024. As for the monthly breakdown in December, it can be seen below:
Despite a poor finish to the year, there is some added resilience seen throughout 2025 for euro area retail sales activity. So, that speaks to household expenditure holding up despite worries about inflation especially in the likes of Germany and Spain.
In any case, this isn't a data point that will move the needle on the ECB. At this stage, the central bank remains solely focused on the inflation battle. And while core prices are slowly nudging back towards the 2% level, it likely won't be enough to warrant a shift from the central bank today and for the first half of this year.
