Retail sales contract in November
Retail sales fell by 1.9% year-on-year in November, in contrast to October’s +0.3% reading.
Meanwhile, the trend pointed down, with the annual average growth of retail sales coming in at 2.8% in November, down from October’s 3.3% reading.
FocusEconomics Consensus Forecast panelists expect GDP to expand 1.0% in 2023, which is down 0.1 percentage points from last month’s forecast. For 2024, they project economic growth of 2.5%.
Luxembourg Retail Sales (ann. var. %) Data
|Retail Sales (ann. var. %)||-27.0||-9.5||4.5||-1.6||9.8|