Consumer demand in Europe is growing at a record

The economic recovery in Europe is encouraging, however experts note that his character has changed. Earlier after the crisis first of all, the level of exports in the region was normalized, now the recovery is based on the growth of domestic demand. The latter increases due to the mood of consumers who are tired from quarantine. Europeans started spending money, testify Eurostat data. In this regard, the growth of retail sales in May set a new record, reaching 17.8% - these results have surpassed analysts' forecasts by almost 3%. The demand for clothing, electronics, fuel. Compared to May of the past consumption turned out to be 5% lower. In comparison, the demand from non-European countries looks more moderate. The volume of overseas orders increased by 10.4%, which is also was a record value, but was below forecasts analysts. Experts warn that the slow pace recovery in the manufacturing sector could negatively impact employment, which in turn will hit consumer expenses.