With the energy bill having increased recently, the risk is that consumers will tighten their belts over Christmas. The euro-zone economy is still at risk of a disappointing Christmas.
More Quotes from Lorenzo Codogno:
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.Lorenzo Codogno
The combination of high inflation and somewhat slower growth is certainly the worst thing for the euro,
Lorenzo Codogno
We believe that the long-awaited shift from soft to hard data is evidence of a recovery in euro zone private consumption has started, and will likely proceed gradually and modestly over the coming months, in line with the expected improvement in household real disposable income.
Lorenzo Codogno
In order to move interest rates higher, the ECB needs to be confident about the sustainability of the economic upswing, especially on the consumer side.
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
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