DAX Shows 1.33% Growth
European stock indices were higher today, although protracted fears about world trade seem to be holding back growth. European markets opened with growth after Germany's Chancellor and Interior Minister reached a compromise agreement on migration issues. The German DAX index is trading at 12.400 level, having gained 1.33%. Last week, the DAX has lost 1.5%, amid increased trade tension.
Retail sales across the Eurozone remained subdued in May, a sign that rising energy costs are limiting spending on other goods and services, threatening to weaken economic growth. The European Union's statistics agency said that retail sales edged down to 0.0%, down from the forecast of 0.1%. Compared to a year earlier, retail sales were 1.4% higher in May than in April, but the increase was lower than the 1.5% anticipated by markets and was slower than the revised-down 1.6% growth in the previous month.
Eurozone producer price inflation accelerated in May to the highest level in twelve months. Industrial producer prices climbed 3.0% year-over-year in May, faster than the 1.9% rise in April. On a monthly basis, producer prices rose 0.8% in May, after remaining flat in the previous month. Prices were expected to increase by 0.1%.