Friday, official data revealed that Eurozone retail sales decreased for the eighth consecutive month in January as consumers reduced their spending amid the economic slowdown.
In other news, new car registrations in Europe dropped 18.3% in February from the same period of the previous year, the European Automobile Manufacturers' Association reported. This follows a 27% annual fall in January. The number of passenger cars registered in February totaled 968,159. The downturn was more marked in the new EU Member States than in Western Europe, where the German market pushed total registrations upward.
Eurozone
Compared with January 2008, Eurozone retail sales dropped 2.2%, a slower pace than December's 2.4% decline, the Eurostat said. Economists were looking for an annual decrease of 2.3%.
Retail trade volume in the Euro area rose 0.1% in January from the previous month, reversing three consecutive months of decline. Sales were down 0.3% in December and 0.1% in November. However, retail sales growth in January was smaller than the consensus forecast of 0.2%.
The Eurostat also said Eurozone labor costs increased 3.8% year-over-year in the fourth quarter, smaller than a revised 4.2% growth in the previous quarter. Economists' were looking for an increase of 3.6%.
Germany's Federal Statistical Office said in a report that the real manufacturing turnover decreased a working day adjusted 20% year-over-year in January, compared with a 12.6% fall in the previous month. This was the highest annual decline since 1991.
The German statistical office also reported that the wholesale price index declined 5.7% year-over-year in February, after falling 5.9% in January.
Italy's National Institute of Statistics announced that the average labor cost per employee rose 3.5% year-over-year in the fourth quarter, smaller than the 6.2% rise in the third quarter.
Statistics Austria announced that the jobless rate stood at 4% in the fourth quarter, up from 3.7% in the previous three months. A year ago, the jobless rate was 4%.
The Netherlands' Central Bureau of Statistics announced that the trade surplus stood at EUR 2.8 billion in January, up from EUR 2.5 billion in December.
The Statistical Service Of the Republic of Cyprus said retail trade turnover increased 32.2% month-on-month in December, accelerating from 8.3% increase seen in the previous month.
Finland recorded a current account deficit of EUR 27 million in January, reversing from a surplus of EUR 287 million in December, a report by the Bank of Finland said.
Statistics Finland released several economic indicators. Consumer prices rose 1.7% year-on-year in February, slowing from a 2.2% rise in the previous month. Economists expected a 1.5% increase for consumer prices. The harmonized index of consumer prices rose 2.7% year-on-year.
New orders in manufacturing fell 38.3% year-on-year in January compared to a 32% fall in December. The new orders fell for the sixth consecutive month in January. Retail trade sales grew 2.5% year-on-year in January, reflecting a 7.2% rise in daily consumer goods trade.
Further, turnover in the service industry rose 4.8% year-on-year in the October to December period, after gaining 8.1% in the previous three-month period. In a separate report, the statistical office said the total turnover of construction enterprises rose 1.6% year-on-year in the October to December period.
The Statistical Office of the Slovak Republic said the total trade deficit stood at EUR 279.5 million in January, narrowing from EUR 341.6 million in the previous month.
Rest of Europe
Swiss producer and import prices dropped 0.6% in February from the previous month, larger than an expected fall of 0.2%, the Federal Statistical Office said. From the previous year, import and producer prices were down 1.8%. Economists were looking for an annual 1.2% decrease.
Poland's Central Statistical Office announced that the consumer price index or CPI rose 3.3% year-over-year in February, larger than a revised 2.8% increase recorded in the previous month. The February inflation came in line with economists' expectation.
The National Bank of Poland revealed in a report that the current account deficit stood at EUR 1.07 billion in January, narrowing from EUR 1.92 billion deficit in December.
Statistics Lithuania said the jobless rate increased to 7.9% in the fourth quarter from 5.9% in the third quarter. The agency also announced that the labor cost index rose 14.3% year-on-year in the fourth quarter compared to a 17.6% rise in the corresponding period last year. In the third quarter, labor costs were up 16.7%.
The Czech National Bank said the current account deficit decreased to CZK 1.52 billion in January from CZK 19.27 billion in December. Economists expected a surplus of CZK 0.65 billion for January.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.