- Analytics
- News and Tools
- Market News
- Eurozone September retail sales correction doesn’t bode well... - ING
Eurozone September retail sales correction doesn’t bode well... - ING
Bert Colijn, senior economist at ING, suggests that the September decline in Eurozone retail sales brings them back to the level seen before the pandemic, but things are likely to get much worse before they get better, as new lockdown measures will hit the retail sector heavily.
"The September decline in eurozone retail sales was to be expected."
"Retail sales is a volatile indicator and August numbers were inflated by a postponed sales period in several countries. This is confirmed by the country differences as declines in retail sales were the sharpest in France and Belgium -countries that postponed the sales period. The overall eurozone decline was very modest though and still leaves sales 1.1% higher than in February 2020 - the last month before the first wave lockdowns."
"From here on, retail sales are likely to dip further though."
"The new restrictive measures announced will impact retail stores and their sales significantly, especially in November. Countries like France, Ireland and Belgium have closed non-essential retail stores to limit the spread of the virus."
"The consumption outlook for the last quarter of the year has therefore turned negative again and so has the outlook for GDP in general."
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
