As January data are inflated by a growing tendency towards gift vouchers over Christmas, which are then turned into purchases afterwards, a return to normal in February is likely to show up in more subdued sales.
More Quotes from Lorenzo Codogno:
It was much more balanced than the first debate which Berlusconi clearly lost. This time I think there was no clear winner and I'm sure both sides will claim victory.Lorenzo Codogno
There is clearly a risk now that they might be bold enough to tighten policy in December, We think they will wait until March.
Lorenzo Codogno
The government was very reluctant to take a position because it's a very delicate situation, but now they are really turning the pressure on.
Lorenzo Codogno
Protectionism remains the major threat to global growth.
Lorenzo Codogno
Despite oil price tensions and strengthening domestic demand, the inflation performance remains subdued. Barring another oil spike, the headline rate is likely to ease further during the course of the year.
Lorenzo Codogno
Policy makers are not doing their job properly in order to support the euro,
Lorenzo Codogno
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Under this window in stormy weather I marry this man and woman together; Let none but Him who rules the thunder Put this man and woman asunder.
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