Global| Mar 03 2010EMU Retail Sales And Car Registrations Show Some Gains
Summary
Retail Sales in the Zone edged higher in January at the same pace as in December and November. The growth rate for e-Zone retail sales is improving Yr/Yr but it is still falling. The sequential growth rates show steady if snail’s pace [...]
Retail Sales in the Zone edged higher in January at the same pace as in December and November. The growth rate for e-Zone retail sales is improving Yr/Yr but it is still falling. The sequential growth rates show steady if snail’s pace improvement.
Auto registrations bolstered by some government incentive programs made a strong recovery from crisis lows but have fallen over the past two months. Still the level of sales remains strongly higher Yr/Yr.
Europe’s consumer is improving but doing so at a very slow pace. The consumer sector is not leading but following the trade block into recovery. Two of the larger EU countries that have reported sales at this point, Germany and the UK, are laggards when it comes to retail sales improvement.
| Euro-Area Retail Sales | ||||||
|---|---|---|---|---|---|---|
| M/M | Saar | |||||
| Jan-10 | Dec-09 | Nov-09 | 3-Mo | 6-MO | 12-Mo | |
| Zone Total Value | 0.2% | 0.2% | 0.2% | 2.4% | 1.1% | -1.1% |
| Food,Bev Tobacco | -0.1% | -0.1% | -0.2% | -1.8% | -2.1% | -2.1% |
| Registrations: | ||||||
| Motor Vehicle Reg | -0.4% | -3.1% | 1.1% | -9.4% | -0.8% | 20.8% |
| NonFood Country detail: Volume | ||||||
| Germany Value | 0.0% | 0.9% | -1.2% | -1.2% | -0.6% | -0.2% |
| UK(EU) Volume | -1.8% | -0.3% | -0.4% | -9.3% | -3.4% | 0.8% |
Robert Brusca
AuthorMore in Author Profile »Robert A. Brusca is Chief Economist of Fact and Opinion Economics, a consulting firm he founded in Manhattan. He has been an economist on Wall Street for over 25 years. He has visited central banking and large institutional clients in over 30 countries in his career as an economist. Mr. Brusca was a Divisional Research Chief at the Federal Reserve Bank of NY (Chief of the International Financial markets Division), a Fed Watcher at Irving Trust and Chief Economist at Nikko Securities International. He is widely quoted and appears in various media. Mr. Brusca holds an MA and Ph.D. in economics from Michigan State University and a BA in Economics from the University of Michigan. His research pursues his strong interests in non aligned policy economics as well as international economics. FAO Economics’ research targets investors to assist them in making better investment decisions in stocks, bonds and in a variety of international assets. The company does not manage money and has no conflicts in giving economic advice.
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