The Bloomberg Eurozone Retail Purchasing Managers' Index fell to 45.9 in November, from 48 in October. The Index is an indicator based on a mid-month survey of economic conditions in the euro area retail sector. The number signals a decline in sales for the second consecutive month. Moreover, the latest fall was the second-steepest recorded over the survey's four-year history, exceeded only marginally by the record contraction seen in May 2004 (45.4).
The Index reports that retailers, on average, expect to beat sales targets in December, with the expectations index rising slightly from 55.4 to 55.9. Retailers in France were again the most optimistic about beating targets, while Italian retailers gained in confidence since November. In contrast, Germany retailers expect to miss targets on average. By sector, the strongest confidence was registered regarding sales of food and drink, followed by pharmaceuticals and clothing & footwear respectively. Retailers in the household goods and autos sectors expect targets to be missed in December.