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Euro zone retail spending down sharply on depressed winter sales


By Reuters Staff
2 Min Read
BRUSSELS, March 4 (Reuters) - Euro zone retail sales fell far sharper than expected in January as shuttered stores due to coronavirus restrictions and muted winter sales suppressed consumer spending except for food and online.
EU statistics agency Eurostat said on Thursday that retail sales were down 5.9% month-on-month in January and by 6.4% year-on-year. That compared with the average forecast declines in a Refinitiv poll of 1.1% and 1.2% respectively.
Sales for food, drink and tobacco rose by 1.1% in the month, but for non-food products except automotive fuel they dropped by 12.0%, while online sales were up 7.1%.
The steepest declines were in Austria, Ireland and Slovakia, with sales drops of more than 10%. ....

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Japan Jan retail sales fall 2.4% year/year - govt

Japan January factory output to rise for first time in three months: Reuters poll


By Reuters Staff
2 Min Read
TOKYO (Reuters) - Japan’s industrial production likely grew for the first time in three months in January as manufacturing activity picked up globally, a Reuters poll found on Friday, offering a glimmer of hope for an economy battered by the coronavirus pandemic.
FILE PHOTO: Smoke rises from a factory during the sunset at Keihin industrial zone in Kawasaki, Japan, January 16, 2017. REUTERS/Toru Hanai
But retail sales, a key gauge of consumer spending, probably contracted for a second straight month, suggesting the pandemic continued to dampen consumption, the poll showed.
Analysts expect the economy in the current quarter to shrink as a local state of emergency in some areas, including Tokyo, to contain coronavirus cases hit businesses and consumers. ....

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