Retail sales down in Belgium, up in the Netherlands

High costs and reluctant consumers are putting pressure on the European retail sector. France and Spain show slight growth, Germany and Italy lag behind. The picture in the Benelux is also mixed.

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While European consumer confidence is rising, high savings rates (20 % in Germany) and inflation are dampening spending. While France and Spain show slight growth around 1.5 % for this year, Germany and Italy remain behind. After construction, retail is the runner-up sector in terms of most bankruptcies, according to the recently released sector analysis by credit insurer Allianz Trade.