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Euro Zone Retail Sales - Economic Data Preview
Tuesday, 02 December 2008 22:36:59 GMT
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Euro Zone Retail Sales are expected to see a -0.4% decline in October to suggest that receipts fell -1.5% from that time last year. This will mark the fifth consecutive monthly decline in the annualized reading as the increasingly sluggish economy and erratic financial markets spook consumers and cool spending. Indeed, recent reports saw consumer confidence in the region sink to the lowest levels since 1994. The European Central Bank is expected to throw more money at the problem, with markets pricing in Jean-Claude Trichet and company to shave at least 0.50% off benchmark interest rates at a meeting later this week.
For a complete listing of past and upcoming data releases, please see the DailyFX Economic Calendar.
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