03.10.2014 - Statistics on retail sales in the euro area has surprised investors
Retail sales in the euro zone rose and exceeded analysts' forecasts. So, in August index unexpectedly rose by 1.2%, compared with the forecasted increase of 0.1%. In the previous period, retail sales fell by 0.4%. The main reason for the improvement was the increase in the index of consumption by households. The greatest increase was recorded in the consumption of non-food items and fuel. This fact gives reason to expect an increase in the rate of growth in the region.
Despite this, the restoration of the euro area economy is weak and we keep the medium-term negative outlook for European stock indexes.