Significantly, the weak October retail sales figures came after Germany’s GfK Consumer Climate Report, which signaled a sharp pullback in private consumption. The report highlighted tumbling income expectations and rising consumers’ willingness to save, driven by concerns about a weaker labor market.
The latest retail sales and consumer sentiment figures paint a gloomier picture of the German economy.
Impact on ECB Monetary Policy
The sharp decline in retail sales and potential for steeper falls in November may fuel speculation about…
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