Euroarea Retail Sales To Keep Falling - Capital Economics
Eurozone retail sales are set to keep declining over the rest of the year as the effects of tighter monetary policy continue to feed through to consumers, Capital Economics economist Bradley Saunders said Wednesday following the release of July retail sales data from Eurostat.
"The big picture is that the outlook for household spending looks poor," Saunders said.
"Consumer confidence is far below its average level of the past decade. And high interest rates and stagnating real incomes should continue to constrain households' ability to spend."