February’s rise in euro-zone retail sales volumes caused the annual growth rate to pick back up to a healthy 2.4% and suggests that total consumer spending growth accelerated in the first quarter compared to Q4. But spending volumes have been boosted by sharp falls in oil prices, which cannot continue at the same pace. And the further fall in EC Survey consumer confidence in March supports our view that the spending revival which was the mainstay of last year’s economic recovery is set to slow in the months ahead.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services