More evidence of economic weakness in the eurozone has come from the latest retail sales figures and a survey of business growth.
Retail sales in the 18-nation bloc fell 1.3% in September from August, official data from the Eurostat statistics agency showed.
Meanwhile, growth was minimal across all sectors, according to the latest Markit Purchasing Managers’ Index.
European policymakers have been introducing measures to boost growth.
The Eurostat figures show that Germany, traditionally the driver of eurozone growth, suffered the biggest fall in retail sales, down 3.2% for the month.
The next biggest fall was in Portugal, down 2.5%.
Rises in retail sales came only in smaller eurozone countries, such as Malta, Luxembourg and Austria.
Eurostat also revised down the August monthly rise to 0.9% from the previously reported 1.2%.
via BBC
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.