While retail sales are holding up in the U.S.A. they fell sharply in Europe in October 2022. As retailers firm up annual budgets, the scenario of a recession seems to be confirmed.
According to Eurostat, retail sales in Europe fell by 1.8% in October 2022 (compared to September). This drop, the largest recorded since July 2021, was before households turned on the heating, as temperatures were mild until mid-November.
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Article authors
Sophie Baqué
Chief Editor of mind Retail