German December Retail Sales Unexpectedly Decline; "The figures are absolutely dreadful"

Bloomberg ^ | 01/30/04 | Bloomberg

[Pikamax]

German December Retail Sales Unexpectedly Decline (Update2) Jan. 30 (Bloomberg) -- German retail sales unexpectedly fell for a second month in December, as concerns over health-care, pensions and employment overshadowed the prospect of income-tax reductions in Europe's biggest economy.

Sales slipped 2.3 percent from November, when they fell a revised 3.4 percent, the Federal Statistics Office said in Wiesbaden. Economists had expected an increase of 0.5 percent, the median of 16 forecasts showed in a Bloomberg News survey. Sales declined 2.5 percent from the year-earlier period.

[NetValue]

If a product bears a tag saying "Made in Germany" or "Made in France" it can stay on the shelf until it rusts or rots.

[smith288]

So much for a socialist utopia in Euro.

[2banana]

About one in 10 people is out of work in Germany, compared with a U.S. jobless rate of 5.7 percent. The Federal Labor Agency reports January unemployment figures next week. In France, unemployment rose in December for the first month in three, suggesting companies want to see signs of faster economic growth before taking on extra staff.

A 10% unemployment rate in a socialist country is actually near record lows. They usually average around 15% unemployment...

[Investment Biker]

Remember that the Chinese currency is linked to the dollar and the dollar has suffered versus the euro. This means that "Made in China" is more and more attractive purchasing option for the Europeans. In fact as prices decline for goods then the retail sales number also declines. This does not mean that volume has declined or that people are buying less. It does mean that European employment is in deep deep trouble. Imported goods are cheaper than domestic and more will be unemployed as the economy restructures to handle the adjustments caused by a shift in trade patterns.

[q_an_a]

It shows what happens when you give up your belief in Christ. Why buy presents? It is a silly holiday. The more they take God and Christ out of their society the worse their circumstances.

[Willie Green]

The more they take God and Christ out of their society the worse their circumstances.

Not to mention that not many Germans buy presents to place under the Kwanzaa tree.