Eurozone Retail Sales Plunge

Here’s more for the argument that the ECB needs to seriously step on it.

Retail sales in Europe tanked in December.

From Eurostat:

In December 2013 compared with November 2013, the seasonally adjusted volume of retail trade1 fell by 1.6% in the euro area (EA17) and by 0.8% in the EU282 , according to estimates from Eurostat, the statistical office of the European Union. In November retail trade increased by 0.9% and 0.8% respectively. In December 2013 compared with December 20124 the retail sales index decreased by 1.0% in the euro area and rose by 0.1% in the EU28. The average volume of retail trade for the year 2013, compared with 2012, fell by 0.9% in the euro area and by 0.2% in the EU28.

The Eurozone has several signs of a flagging economy and a risk of deflation. This is just the latest.

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