Technical Analysis

Eurozone October retail sales -1.8% vs -1.7% m/m expected

  • Prior +0.4%; revised to +0.8%
  • Retail sales -2.7% vs -2.6% y/y expected
  • Prior -0.6%; revised to 0.0%

Euro area retail sales were weaker than anticipated in October but that comes after a bit of a positive revision for September. In any case, the dip continues to highlight weakening demand conditions – which has become more prevalent in Q4, suggesting that a recession is likely in the works.

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