Retail sales in the euro area fell according to the forecasts

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The sharp drop in demand in Germany has caused a decline in retail sales in the eurozone. Retail sales in 19 European countries declined 1.6% in December after rising 1.8% a month earlier. Growth in retail sales compared to last year was 0.8%. Decline in retail sales in December was the highest since May 2011. Eurozone economic sentiment fell to a 2-year low in January. GDP in the region grew by only 0.2% in the fourth quarter of last year. This is the slowest growth rate since 2014. Sales of non-food products fell by 2.7% in November, sales of electrical goods and furniture - by 2.1%. Clothing sales decreased by 2.9%, and Internet sales decreased by 6.9%. The maximum decline in retail sales was noted in Germany, where sales of goods decreased by 4.3%. In November, due to days of discounts, demand was higher, so the December recession became sensitive for the market. Sales growth was recorded in Austria, Portugal and Ireland. In France, retail sales declined by 0.1%.

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