Brussels (Reuters) - Euro zone retail sales has strongly in March, data showed Wednesday, indicating that food growing and the prices of energy have been curb household demand and that economic recovery was still mainly focused industry.
The EU statistical office Eurostat said sales at retail in 17 countries, with the euro fell by 1.0% in March for a decrease of 1.7% on the year.
Economists surveyed by Reuters had expected a monthly increase of 0.1% and a flat reading sur-année.
The March on year decline in sales figures, which are a good indication of the household demand, was the largest since November 2009, when they fell 2.4 percent in annual terms.
"Even taking into account the fact that retail sales were probably dragged in March by the Easter later than in 2011, that decline is disappointing, given the importance of spending for the growth prospects and the fact that it was fragile recovery in the euro area at present to consumers,"said Howard Archer".an economist at IHS Global Insight.
"If the euro area is sustained, decent growth in 2011, should consumers more in more to intensify to the plate.". "And what is worrying, the euro-zone consumer confidence fell for a second month in April, at a minimum of nine months, running," he said.
But Eurostat also revised upward the sales data for February - to 0.3% growth monthly from a decline of 0.1% retail and an annual increase of 1.3% to 0.1%.
"Retail sales would now slightly down on the quarter, but then retail sales are volatile numbers and are often revised more than once, we should take their with a pinch of salt."said Carsten Stories, an economist at ING Bank.
The data was unlikely to have an impact on the monetary policy of the European Central Bank, he added.
The ECB meets on interest rates Thursday and economists will be watching for indications that the Bank would aim at a rate hike in June, rather than in July, an increase in the consumer price, fueled by more expensive oil from the stem.
"The weakness of private consumption is not a surprise if you see that inflation has been pick up - prices of energy and food prices.". Consumers are the first to feel that "Stories told."
"If anything, the figures would be pointing to a deflationary effect from the higher prices of food and energy, but it was known already last month and the previous month and the rest of the ECB began his cycle of tightening.""," he said, referring to the April ECB rate rise.
Eurostat said that the largest monthly decline in the euro-zone retail sales at Portugal, where the Government is implementing an austerity program difficult to regain the confidence of financial markets. Sales volumes decreased by 4.7% in February.
The second largest drop monthly, 3%, was Slovenia and the third largest, a drop of 2.1 per cent, is in the largest economy of the euro area, Germany.
(Statement by Jan Strupczewski, mounting by Rex Merrifield and Toby Chopra)
没有评论:
发表评论