Hamilton Crawford - Euro zone retail sales suffer in February

1
Hamilton Crawford - Euro zone retail sales suffer
in February
1888 Press Release - Euro zone businesses see
retail sales slow as consumers spend less on
non-essential items. Hamilton Crawford
economists report that euro zone retail sales
figures increased by less than anticipated in
February as many consumers limited spending on
non-food and essential items. Figures from
January were also downwardly revised, suggesting
a decline in retail sales for the bloc at the
beginning of 2018. Last week, Eurostat, the
European Unions official statistics office said
that retail sales in the 19 countries that make
up the bloc increased by only 0.1 percent on a
monthly basis and 1.8 percent on an annual basis.
Hamilton Crawford economists had forecast a
rise of 0.5 percent in February and a year on
year gain of 2.1 percent. Eurostat also revised
its January figures downwards to -0.3 percent
month on month and 1.5 percent year on year. The
original growth was thought to be -0.1 percent
and 2.3 percent. Hamilton Crawford economists
say that sales of food, beverages and cigarettes
expanded in February after a contraction the
month before. While the sales of medical goods
and fuel increased during February after
decreasing in January, other non-essential goods
which included electrical merchandise, furniture
and apparel either increased by less than in
January or decreased. Hamilton Crawford
analysts also noted that online retail sales,
which had reached record highs in November last
year, have now declined for the third consecutive
month.
2
Last week, Eurostat also released data on
producer prices, revealing a 0.1 percent monthly
rise which Hamilton Crawford analysts say was in
line with forecasts. Eurostat data also revealed
a 1.6 percent annual increase in producer prices
which was slightly more than the expected 1.5
percent. http//www.elite-news-cn.com