Eurozone economic news on 1-7-2009 were mixed and mostly below expectations. More specifically, retail sales and monthly change in German factory orders were below expectations while Eurozone confidence matched expectations.
Eurozone retail sales for November 2009 posted a monthly drop of 1.2% and a year-over-year drop of 4%. This performance was considerably worse than the forecast that called for 0% monthly change and a year-over-year drop of only 1.9%.
In addition, German factory orders for December 2009 posted a monthly gain of 0.20%, while the forecast called for a monthly increase of 1.5%. However, on a yearly basis the seasonally unadjusted German factory orders posted an increase of 1.8%, which is considerably better than the forecast which called for a 0.20% drop.
Finally the Eurozone Consumer Confidence for December 2009 came at the expected level of -16, while the Economic Confidence Index came at a level slightly higher than expected (91.3 versus 90).
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