Conjoncture Flash September 2023: Decline in retail consumption
Retail sales volumes in the euro area continue to trend downward. The same applies to Luxembourg, except for businesses focused mainly on non-resident customers. Household consumption as a whole is holding up better, boosted by other types of spending.
- Activity 1/2: GDP dips slightly in Q2
- Activity 2/2: Growth for recent years revised upwards
- Rate hikes coming to an end
- Property sector lacks funding
- Employment continues to slow
- Pressure mounts on pump prices
- Businesses hit harder by rising energy prices
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