Recent Updates

  • Canada: Wholesale Trade, MSIO (Nov)
  • Canada Regional: Wholesale Trade, MSIO by Province (Nov)
  • US: Philadelphia Fed Nonmfg Business Outlook Survey (Jan)
  • Hungary: Wages (Nov), Fostered Workers, Social Security Balance (Dec), Maturity Profile of Central Government Debt (Q4)
  • Ireland: PPI, WPI (Dec), Personal Bankruptcy (Q4)
  • Mexico: Employment (Dec)
  • Budget Implementation (Nov)
  • Iraq: Internal Public Debt
  • more updates...

Economy in Brief

Euro Area Retail Sales Weaken
by Robert Brusca  September 3, 2014

Euro area retail sales backed off in July as overall and ex-food sales fell. Both sales flows accelerated over 6-months compared to 12-months but then decelerated over 3-months compared to both six-months and 12-months.

Motor vehicle sales, updated through June, are decelerating.

German, Danish, U.K. and Swedish retail sales are decelerating in July. These same countries have retail sales contracting over 3-months.

The geopolitical events seem to be hitting the euro area hard. Sale are withering and doing so on a broad front. There is hope that the European Central Bank programs will be successful. But it is not clear that the ECB will have the ability to implement some of the broader programs that some in the markets are anticipating.

close
large image