Eurozone retail sales rose at fastest rate in over two years in July as the latest retail PMI (Purchasing Managers’ Index) data from Markit, signalled that sales rose for the second month running in July. The seasonally adjusted Eurozone Retail PMI – - tracking monthly changes in the value of sales at retailers – - remained above the no-change mark of 50.0, rising from June’s 50.4 (revised up from 49.7) to 52.4. The latest figure signalled the sharpest increase in sales since May 2008 (when sales received a boost from the timing of Easter). It was also the first back-to-back increase in sales since September 2007. However, the upward momentum was weather-related, while retailers remained uncertain in their outlook.
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