The number of products sold by European retailers increased by 0.3%. According to Eurostat, this applies to both the European Union and the eurozone, the countries that pay with the euro. In December, there was still a decline of 1.6 and 1.7 percent respectively.
The strongest climber in the Netherlands
The strongest increase was recorded in the Netherlands, where sales increased by 4.9% compared to December. Our country is followed by Luxembourg (up 4.6 percent) and Slovenia (up 4.1 percent). The number of products sold decreased most in Austria, by 9.8%.
ING economists indicate that a recovery was expected after December, but that the 0.3 percent month-on-month increase is “weak”. As a result, further growth during the first quarter will be “a challenge”. However, peak inflation appears to be behind us, which is good for consumers, according to ING. But with purchasing power still under pressure, “there doesn’t appear to be much momentum in a rapid recovery in 2023.”