Well, it was about time reality to checks in...
Sharper fall in Eurozone retail sales reflects renewed decline in Germany
Markit’s retail PMI® data for the final month of 2012 signalled an ongoing sharp downturn in retail sales in the Eurozone, after accounting for the seasonal boost from festive trading. The Eurozone Retail PMI is a seasonally adjusted indicator of changes in the value of sales at retailers. Any figure greater than 50.0 signals growth compared with one month earlier. The PMI fell from 45.8 in November to 44.5 in December, indicative of a sharp fall in retail sales. The average for Q4 (45.2) is among the lowest for any quarter of the survey’s operation. Moreover, the trend for 2012 (45.5) is the lowest annual ... (full story)