Eurozone Retail Sales Rise Less Than Forecast

RTTNews | 15h 19min ago

(RTTNews) - Driven by food and auto fuel turnover, Eurozone retail sales registered a marginal growth, which was weaker than expected in November, reflecting subdued household consumption towards the end of 2024.

Retail sales grew 0.1 percent on month in November after easing 0.3 percent in October, data from Eurostat showed Thursday. Sales were expected to climb 0.3 percent.

Sales of food, drinks and tobacco rose 0.1 percent, while non-food product sales declined 0.6 percent. Automotive fuel in specialised stores increased 0.8 percent from the previous month.

Year-on-year growth in retail sales softened to 1.2 percent from 2.1 percent in October.

Retail sales in the EU rebounded 0.2 percent in November after a 0.1 percent drop a month ago. Annually, retail sales growth weakened to 1.5 percent from 2.2 percent. Among member countries of the EU, the highest monthly increases in the total retail trade volume were recorded in Cyprus, Bulgaria, Denmark and Latvia. Meanwhile, the largest decreases were observed in Belgium, Germany and Spain.

Capital Economics' economist Andrew Kenningham said euro area household consumption is likely to grow at a moderate pace this year.

Rising real incomes, continued employment growth and falling interest rates should support consumption and in some countries immigration is boosting spending, he noted.

However, the economist cautioned that there are downside risks to the forecast of average quarterly consumption growth of 0.3 percent this year.

Tags: EUR

German Industrial Output & Exports Recover

Germany's industrial production and exports rebounded in November but the underlying picture remained pretty grim amid job cuts in manufacturing and the possible hike in trade tariffs by the U.S. Industrial output increased a more-than-expected 1.5 percent on a monthly basis, in contrast to the revised 0.4 percent decrease in October, data from Destatis revealed Thursday.

RTTNews | 12h 15min ago

Eurozone Economic Sentiment Deteriorates Sharply

Euro area economic confidence deteriorated to the lowest in more than a year in December as the improvement in services sentiment was offset by weaker morale in industry, construction and among consumers. The economic sentiment index dropped more-than-expected to 93.7 in December from 95.6 in the previous month.

RTTNews | 1 day ago

German Factory Orders Fall Sharply In November

German factory orders declined notably in November due to the sharp decrease in orders for transport equipment, suggesting that the manufacturing sector remains deep in recession. New orders registered a monthly fall of 5.4 percent in November, Destatis reported Wednesday. The pace of decline deepened from 1.5 percent in October and was worse than economists' forecast of 0.3 percent drop.

RTTNews | 1 day ago

Acceleration In Eurozone Inflation Signals Slower ECB Rate Cuts

Euro area inflation accelerated for the third straight month to the fastest in five months in December, suggesting that the European Central Bank will be cutting interest rates more slowly than anticipated. The harmonized index of consumer prices climbed 2.4 percent from a year ago, following a 2.2 percent gain in November, preliminary data from Eurostat showed on Tuesday.

RTTNews | 2 days ago

German Construction Activity Remains Firmly In Recession Zone

Germany's construction sector remained deep in the recession zone in December as political uncertainties damped orders, survey data from S&P Global showed on Tuesday. The HCOB construction Purchasing Managers' Index dropped to 37.8 in December from 38.0 in November. The score was the lowest since last April and signaled a notable contraction in the sector.

RTTNews | 2 days ago

German Inflation At 11-Month High Unlikely To Worry ECB Policymakers

Consumer price inflation in Germany rose for a third month in a row, and at a faster than expected pace in December, to its highest level in 11 months led by higher food prices and services costs, though policymakers at the European Central Bank are likely to be less concerned at the recent spike in price pressures and press ahead with another interest rate reduction in the next policy session.

RTTNews | 3 days ago

Eurozone Economy On The Verge Of Deeper Crisis, Sentix Says

The euro area economy is in the danger of plunging even deeper into crisis and the room for the European Central Bank for maneuver is diminishing rapidly, the behavioral research institute Sentix said Monday. Eurozone investor confidence sunk to the lowest level since November 2023 with the corresponding index falling to -17.7 in January from -17.5 in December, results of the monthly survey by S

RTTNews | 3 days ago

Eurozone Private Sector Shrinks Marginally

The euro area private sector contracted only fractionally in December as services activity bounced back, final results of the purchasing managers' survey by S&P Global showed on Monday. The composite output index rose to 49.6 in December from 48.3 in the previous month. The score was slightly above the flash estimate of 49.5.

RTTNews | 3 days ago

EURUSD	1.02997	GBPUSD	1.23096	AUDUSD	0.61969
USDJPY	158.111	USDCAD	1.43896	USDCHF	0.91217