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Economic sentiment rose in the Euro-Zone last month, but inflation remained in a negative range before a slow, likely rally this year as some tax cuts, rising oil prices and the start of the economy’s recovery began.
And data released by the European Union Statistics Office (Eurostat) on Thursday showed that inflation in the 19 countries that use the euro remained unchanged at minus 0.3 percent in December, below analysts’ expectations for a reading of minus 0.2 percent, but it closely matches the European Central Bank’s expectations.
A monthly European Commission survey showed economic sentiment rose to 90.4 points in December from 87.7 in November, while expectations were for an increase to 90 points.
This better reading is mainly due to an improvement in sentiment in the industry to -7.2 points from -10.1 points and among consumers to -13.9 points from -17.6 points.
On the other hand, Eurostat said that retail sales in the euro zone fell by far more than expected in November as countries across Europe began to reimpose restrictions against the pandemic.
Retail sales fell 6.1 percent month-on-month and 2.9 percent year-on-year. Economists polled by Reuters had expected retail sales in the euro area to drop 3.4 percent month-on-month and rise 0.8 percent year-on-year.
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