Germany’s Retail Sales fall by 3.4% MoM in July vs. 0.4% expected
German Retail Sales, a key measure of consumer spending, showed a downside in July. The consumer spending measure fell 3.4% month-on-month (MoM), according to official data released by Destatis, while it was expected to have increased 0.4%. In June, Retail Sales arrived at 0% (revised from -1.1%).
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EIA expects Brent crude spot prices to remain at $100 per barrel for the rest of the year and raises the average price forecasts for this year and next.
The U.S. Energy Information Administration (EIA) has raised its forecast for average Brent crude oil prices in 2026 and 2027 to $97 and $86, respectively, reflecting pressures from global inventory declines, Middle East supply disruptions, and rising transportation costs. As oil production in the Middle East gradually recovers and global inventories rebound from low levels, the EIA expects the average spot price of Brent crude to fall to $87 per barrel in the second quarter of 2027, and further decline to $77 per barrel by the fourth quarter.
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