Latest data released by Eurostat - 7 January 2021

  • Prior +1.5%; revised to +1.4%
  • Retail sales -2.9% vs +0.9% y/y expected
  • Prior +4.3%; revised to +4.2%

Amid tighter virus restrictions, euro area retail sales slumped heavily in November with textiles, clothing and footwear leading the drop. That's not quite a good sign of Q4 consumption but the consolation is that the market is more concerned about Q1 prospects now.