Euroland retail sales fell 0.8% in March, their first fall since September. Annual growth of 1.6% yr is the slowest since November, but in the seven years prior, that 1.7% yr growth pace has only been surpassed once (June 2014 2.0% yr). The Eurozone consumer is stirring? National detail showed Spain and France growing between 2-3% yr but Germany slumping to 0.9% yr from 5.3% yr at the end of 2014. Also the Eurozone PMI composite was revised up from 53.5 to 53.9 in April, still down a tick from March’s 54.0.
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