Retail Sales Data Point to Further Signs of Eurozone Slowdown

Eurozone retail sales volumes were flat in September compared to August, and growth over the year fell to 0.8 per cent, the lowest annual change since October last year according to official data from Eurostat, the Financial Times reported. The data add further weight to the premise that an economic slowdown is on the horizon for the currency union area. Bert Colijn, ING economist, said this is a sign that the current “goldilocks” economic conditions, not too hot and not too cold, are coming to an end. “The porridge has become a little hot in 2018 as inflation bumped up…. Higher oil prices and a weakening euro are putting a significant dent in the recovery of real wage growth, curbing the potential of consumption growth in the Eurozone for the moment,” MrColijn said. Read more