Or just destruction?
The decline in Greek retail sales worsened in September with sales falling at the fastest pace in five months, data released by the Hellenic Statistical Authority showed Friday. Overall retail sales volume excluding automotive fuel fell 12.2 percent year-on-year, following an 8.8 percent decline in the previous month. The latest drop was the biggest since April, when sales fell 13.8 percent.
And there continue to be signs that the economic weakness is spreading north…
BERLIN (AP) — Retail sales in Germany have dropped further than expected in October, raising fears that domestic spending might not offset the country’s declining exports to other European nations. The Federal Statistical Office reported Friday that retail sales declined 2.8 percent in October over September when adjusted for calendar and seasonal variations. Economists had been predicting a 0.4 percent drop.