Retail sales in Germany declined by 0.6% month-on-month in February, significantly underperforming expectations for a 0.3% increase, following a 0.9% drop in January. The continued contraction suggests that the energy crisis is hitting at a time when households are already pulling back from elevated consumption, which may ease inflationary pressures but at the same time raise the risk of recession and a deeper economic slowdown.
Source: xStation5
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