⚡Crypto Alert : Altcoins are up 28% in just last month! Unlock gains and start trading now - Click Here

Some Decent Economic Figures From the Eurozone for a Change

The economy of the Eurozone has been weakening and is pretty close to contraction. Manufacturing and services have been in recession for quite some time and services seem pretty close to contraction, which would mean recession for the economy.

Although, we have seen some encouraging signs recently, such as the slight improvement in services PMI yesterday. It’s early to tell but at least the economic decline has stopped for now, or so it seems. November’s retail sales in particular was good. But, we saw a pickup in CPI (consumer price index) inflation as well. Below are the numbers:

Eurozone Retail Sales Report

  • November retail sales +1.0% vs +0.7% m/m expected
  • Prior -0.6%; revised to -0.3%
  • Retail sales +2.2% vs +1.5% y/y expected
  • Prior +1.4%; revised to +1.7%

Eurozone CPI Inflation Report

  • Eurozone December preliminary CPI +1.3% vs +1.3% y/y expected
  • Prior +1.0%
  • Core CPI +1.3% vs +1.3% y/y expected
  • Prior +1.3%

Core CPI remained unchanged at 1.3% as expected, but the headline inflation jumped 3 points to 1.3%, which is welcomed by the ECB. More importantly, the retail sales jumped 1.0% higher in November and October’s number was revised higher as well. The Black Friday might have had some impact, although not too big since Black Friday is not a big thing in Europe like in the US, so some positive data from Europe for a change.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
Related Articles