Retail sales in the eurozone overall rose at their greatest rate in nearly eight years in December.
Sales of goods went up on average by 0.3% in the 19-nation bloc, according to Eurostat data. The rise in December was the third month in a row.
In Portugal, however, retailers suffered a fall of -3.8%. This was the biggest monthy decrease of any eurozone nation.
Portuguese retailers have been on something of a rollercoaster as there was an uplift in sales in July and August, followed by a downturn in September and October. November brought an increase in sales but hopes were dashed by lower consumer purchases in December.
On a brighter note, sales were up in every month save November 2014 when compared to 2013.
In the last ten years, the least retail trade across the region was recorded in December 2012 followed by another low point in June 2013.
The picture for the whole eurozone area was rosier too as purchases in December were 2.8% greater than in December 2013.
The highest increases in total retail trade were in Luxembourg (9.2%) and Spain (6.6%)
Comments
This is no different to the Greek problem which is shortly to engulf the EU and triggering widespread difficulties - not least to Portugal. The next weakest link. Also a backward society accustomed to a ruling elite having the best of everything without question.
So in both countries many EU billions have never even been in the country, apparently - as dripping out of the BES enquiry - going straight 'off-shore'. Then add in the skew of having an 'untouchable elite' that means everything is inadequate. The law and judiciary, the economy and competition, universal taxation, the politics - the endless routine corruption.
Nothing remotely what the EU was set up for !
And so many thousands of Portuguese still ignorant of what little reform to drive growth has yet happened here.
When the Euro was launched, there was a certain amount of them here [known as the money supply]. But the great men and women who designed the euro economy didn't include any mechanism to prevent the money from draining from some areas into other areas.
We can have austerity until we starve in the dark, it won't help unless someone figures out a way to get some of those euros flowing back.