Bloomberg reveals continued decline for clothing and footwear
The mid-month Bloomberg Eurozone Retail Purchasing Managers' Index rose to 48.1 in January compared with 46 in December, while retail sales fell for the fourth consecutive month. Consumers have been increasingly reluctant to spend as disposable incomes are squeezed by rising utility bills, the cost of fuel and food prices in addition to concern linked to the global credit crunch situation. Clothing and footwear sales fell gradually, although at a much slower pace than in December.
Sales in Italy fell for the eleventh successive month and the rate of decline revealed the steepest monthly drop in the four-year history of the survey (the index fell from 44.7 to 43.0).
Sales in Germany dropped for the fourth month running, with the rate of largely unchanged (the index edged up from 44.0 to 44.2).
However, sales in France rose in sales in January following a continuous decline during the fourth quarter. Retailers registered the strongest gains for nine months (the index jumped from 49.1 to 56.2).
