President Draghi Emphasizes Euro Area Recovery | US Retail Sales Rise by 0.4%
Published September 13, 2019
US retail sales increased more than expected in August, pointing to solid consumer spending that should continue to support a moderate pace of economic growth. The Commerce Department published the report earlier this morning. Retail sales rose 0.4% last month, lifted by spending on motor vehicles and building materials.
The European Central Bank decision continues to make waves globally as the proposed stimulus package has divided governing council members. While the package of measures announced was broad, President Draghi emphasized the need for fiscal policy to do its share to stimulate the region’s recovery.
The first estimate for euro area exports of goods to the rest of the world in July 2019 was €206.5 billion, an increase of 6.2% compared with July 2018. As a result, the euro area recorded a €24.8 billion surplus in trade in goods with the rest of the world.