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12th of December 2010
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February 4, 2009    

Euro zone retail sales fall further in December

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by Kay Murchie

Figures from the EU’s statistical agency, Eurostat, have revealed that retail sales in the euro zone area fell again last month.

Retail sales in December fell 1.6% compared with a year earlier. Meanwhile, November’s figure was revised downwards to show a bigger fall than expected. Eurostat revised down November sales to a 2.6% annual fall and a 0.1% monthly decline.

Commenting on the figures, Jennifer McKeown at Capital Economics, said “December’s euro zone retail sales figures show that falling inflation is still not boosting sales volume“.

Inflation in the euro zone fell to a 26-month low last month, as a result of the sharp fall in the price of energy bills.

Meanwhile, the euro zone economy, which is made up of 16-nations, entered recession in November after negative growth in the second and third quarters.

Finally, the European Central Bank (ECB) is expected to retain interest rates at 2% tomorrow.

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