Inquiring minds are noting the expected (at least in this corner) collapse in European retail sales as measured by PMI indices in Italy, France, and Germany, the three largest Eurozone economies.
Earlier today I took a look at France. For details, please see France Economic Implosion Underway; French Retail Sales Contract 9th Consecutive Month as Cost Inflation Surges.
This article will look at Germany and Italy, the first and third biggest eurozone economies.
The Markit Italy Retail PMI® shows Steep downturn in high street spending continues in December.