Gate.io: Eurozone retail sales in trouble but still hopeful of achieving rise

On March 6th, Golden Data News reported that Bert Colijn, a Dutch international economist, wrote in a report that the decline in retail sales in the Eurozone in January formed a sharp contrast with the significant rise in purchasing power. The current Eurozone retail sales are 0.6% lower than the peak in September last year. Considering the rapid recovery of purchasing power, the weakness in sales is worth noting. ‘Currently, wages are rising far above inflation, leading to a rapid recovery in real wages. However, this has not yet translated into a strong rebound in consumption,’ Colijn pointed out. Over the past year, consumer concerns about the economy and unemployment have increased. His conclusion is that although consumer rise is still expected to materialize, at present, consumer uncertainty may lead to weak spending in the first quarter, keeping GDP rise persistently low.