Tuesday, September 6, 2011

European Retail Trade

The latest data now run through July.  July was a little better than June and much up from the bad reading in May (right after the post-Libya peak in oil prices).  However the level is still below that of a year ago: the European retail economy was contracting even before oil prices became a big factor.

It's hard to be super-optimistic about August given the stock market turmoil of the last month.

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