Europe's Retail Sales Just Plunged
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September's retail sale figures are the eurozone's latest grim economic indicator: sales dropped 1.3% from August to September, up just 0.6% from September last year. Some recovery.
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Analysts had expected a 0.8% drop in sales between August and September, which would still have left the figure up by a modest 1.2% from September last year.
Not only are the eurozone's retail sales not back at pre-crisis levels, they're not even back at 2010 levels, still hurting from the European Central Bank's 2011 rate hikes.
Eurostat
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