European markets slip as retail stocks come under pressure

European shares fell on Friday as retail companies came under pressure from the start of the holiday shopping season amid fears of a sharp slowdown in the global economy and a sharp rise in inflation. Earlier this week.Europe’s retail index fell 0.6 percent on Friday, which falls on (Black Friday), and marks the start of the holiday shopping season.
This year comes amid an exacerbation of the living crisis and the preoccupation with the World Cup soccer tournament.
This indicator is among the worst performing in Europe, as it has fallen 32% since the beginning of the year.
Despite today’s decline, the Stoxx 600 index is preparing to record gains for the sixth consecutive week, supported by indications that the Federal Reserve (the US central bank) may ease the pace of interest rate hikes.
Data published on Friday showed that the German economy grew slightly higher in the third quarter than initially estimated, buoyed by consumer spending.