Follow up to yesterday’s post: Euro area consumption and Investment in Q2 2013
Yesterday I illustrated the unsustainable accounting growth engine of imports occurring in the euro area (EA). Today I’ll present more of a forward looking analysis on private domestic demand within the euro area: consumption and investment. If current levels of real retail sales hold at the euro area level, then the contributions to growth in ... Read more
Euro Area Retail Sales Portend Negative Quarter of Real Consumption
Today Eurostat released its June estimate of real retail sales for the Euro area. On a month/month basis, real retail sales increased at a rate of 0.1%. However, on a trended basis, the 3-month/3-month average growth rate was down 0.7% in the three months ending in June. Given that the 3-month trended pace of contraction quickened ... Read more
European Daily Catch: Unemployment and Retail
Global labor reports prevailed today, but the US employment report took center stage. I’ll not comment on that report, so as to keep with my generally all things European theme here at The Wilder View. However, a quick sift through my feed reveals rather cynical takes: see Dean Baker’s comments here and here; Spencer’s take here; Jake’s ... Read more