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7th Nov 2023 19:21Eurozone, Daily Monitor

  • Retail sales slid in each month in Q3, making it a quarter to forget for the sector.
  • Services spending rose in August, picking up the slack; surveys suggest it won’t do so again in Q4.
  • We are revising down our consumption call for Q4 and therefore now look for a shallow EZ recession.

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Keywords for: 9 November 2023 Eurozone Monitor

Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence