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  • Squawk / 29 June 2015 at 7:14 GMT
    Head of Macro Strategy / Saxo Bank
    Denmark
    Spain exits deflation, but retail sales are soft:

    Spanish consumer prices rose 0.3% m/m this month, more than the 0.1% projected by consensus, according to the national statistics office. The preliminary June estimate comes on the back of a 0.5% increase in May, and with two solid increases in a row the annual change has gone positive for the first time in a year at 0.1% vs. -0.1% expected. The EU-harmonised index is slightly weaker at 0% y/y.

    In another report - this one for May - retail sales disappointed at 3.7% y/y vs. 4% expected and 3.9% prior. This implies a monthly increase of just 0.1%. The overall increase of retail sales of 3.7% y/y is mainly driven by service stations (6.4%) and non-food (5.3%) while food is more or less flat (-0.4%).
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  • Calendar event / 29 June 2015 at 7:00 GMT

    ES Retail Sales

    forecast
    actual
    Low Retail Sales, M/M
    Low Retail Sales, Y/Y
    +3.4%
  • Calendar event / 25 June 2015 at 7:00 GMT

    ES PPI

    forecast
    actual
    Low PPI, M/M
    +0.3%
    Low PPI, Y/Y
    -1.4%